Marvel shareholder files Disney suit

Marvel Entertainment shareholder Christine Vlatos has sued in a Delaware court to block The Walt Disney Company's big money takeover of the comic book firm.

According to the lawsuit, Marvel directors failed to conduct an appropriate sales process, so Vlatos is seeking a court order barring the deal as well as an unspecified amount in damages.

"The proposed transaction does not appear to adequately value Marvel's shares or serve the best interests of the company's public shareholders," read the complaint, which names Disney as a defendant. "Disney, with the board's complicity, appears to have capitalised on non-public information about Marvel in offering to acquire the company."

The purchase, announced last week, sees Marvel shareholders earn $30 (£18) plus a 0.745 share of Disney stock for every Marvel share they hold. In exchange, Disney acquired the rights to over 5,000 comic book characters.

Vlatos added that Marvel directors stand to make millions in benefits from the merger, including the triggering of cash payments associated with stock options and change-of-control payments.

A date for the hearing is yet to be set.