Los Angeles (June 28, 2002) -- What his New York money management firm didn't know about California tax law has hurt Michael Eisner and his wife, Jane, to the tune of more than $3 million, the Disney chief claims.

That's how much the couple alleges they were damaged by Executive Monetary Management for making errors on their state tax returns from 1996-1999, leading to an audit and back taxes.

According to the suit, the N.Y.-based firm was unaware that California law was not in synch with an extension of a federal law regarding treatment of the contribution of appreciated stock to private foundations.

A company spokesperson did not return calls seeking comment.

-- Electronic Accountant Newswire staff

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