Bill Nye the Science Guy is having a bad reaction to his old TV partners at Disney, which is why he's suing them for $9 million! Nye reports first discovering an accounting error in 2008 and engaged in "futile negotiations" with Disney to obtain more documents associated with the error. Of that 50 percent stake, Nye gets a third, with his partners splitting the other two-thirds - giving him 16.5 percent of 100 percent of the net profits.
It also said the complaint accused the companies of misclassifying revenues and expenses.
A Mostly Dry Weekend Ahead
A few sprinkles may pop up for Tuesday , but there is more of a chance for a few showers Wednesday . A big change in the weather is ahead for Cleveland today - get ready for much cooler temperatures.
According to the suit, Nye became suspicious in 2008, when Disney informed him that he owed the company almost $500,000 due to an "accounting error".
"The disturbing size of the supposed 'accounting error, ' coupled with the seeming indifference of both (Buena Vista Television) and (the Walt Disney Company), left Mr. Nye suspicious of the veracity of the accounting statements he had been receiving from BVT over the years", the suit states. He alerted Disney to the fact that he was auditing them in 2014 and was told that they were "backlogged" and that it would take as much as three to four years before his audit could begin. Nye thought so too, which is why he requested an audit of Disney's books in 2016.
Estee Lauder Companies, Inc. (T (EL) Saw a 52-Week High
The company has also steadily raised its dividend, which now yields about 1.3%. (The)'s dividend payout ratio (DPR) is now 40.60%. Deutsche Bank AG lowered their price target on shares of Estee Lauder Companies, Inc. (The) in a research note on Monday.
Under their deal, BVT could pay Nye less for "video device" income if it used an affiliated entity to manufacture the devices, which he says were defined as audio visual cassettes, video discs or any similar devices embodying the series.
The suit alleges that, in total, Disney has deprived Nye and the other owners of the show of $28 million. The host is suing for fraudulent concealment, fraudulent inducement, breach of contract, and breach of fiduciary duty, among other claims, and is looking to earn back the money he is owed along with punitive damages.
Pakistan drop Hafeez, Kamran for World XI series
Indian players are only allowed to play against Pakistan in ICC tournaments - World Cup, World T20, Champions Trophy. Du Plessis, who recently led South Africa on the tour of England, said he was "honoured" to tour Pakistan.