Answer:
True
Explanation:
It is true that Walt Disney refused to negotiate with the Guild in 1940. This was a successful year for Disney, and it was the year the company had its first public offering. It was also not long after the company bought its new Walt Disney Studios, in which the company is headquartered to this day. 1940 was also the year that saw the release of two new movies: Pinocchio and Fantasia.