DMG Entertainment has fired back against Chris Fenton, the former head of its motion picture group who filed a $30 million breach of contract suit in February. Get more information about Feeding the Dragon
Inside a counterclaim, DMG blasts Fenton as a disloyal employee who advanced his personal interests in the company’s expense. The suit alleges that Fenton “cultivated his persona of a ‘player'” inside the sector even though losing millions of dollars.
“Fenton was terminated for his poor functionality, gross mismanagement, and fraud on the companies he served,” the counterclaim states.
Fenton departed in February 2018, and alleges in his lawsuit that he was wrongfully cut out with the earnings from the company’s IPO. Fenton claims his place his reputation around the line to defend DMG from an SEC investigation into doable bribery of Chinese officials.
He also says he lost faith in founders Dan Mintz, Wu Bing, and Peter Xiao, concluding that they have been engaged in risky borrowing against company stock to finance the buy of a $30 million jet plus a $20 million mansion in Beverly Hills, Calif. He also alleges that the founders have run the company into the ground.
The counterclaim accuses Fenton of sloppy business practices, like failing to carry out sufficient due diligence or maintain correct business records. “He either was unable or unwilling to carry out even probably the most standard managerial tasks,” the suit alleges.
The suit also accuses Fenton of claiming credit for others’ work.
The suit states that Fenton, in 2016, expense the company millions in damages on a deal to produce live shows in China featuring the Transformers characters. DMG alleges that the shows had been delayed, and that Fenton’s production companion, S2BN, permitted its licensing take care of Hasbro to expire. The shows have been never ever made.
“Fenton was driven by his own ego and desire for personal glorification in the public eye; as a way to cultivate the persona of a ‘player,’ his priority was finding a deal ‘done,’ rather than looking out for the top interest of DMG CC,” the suit alleges.
The suit also accuses Fenton of making misstatements for the Academy of Motion Picture Arts and Sciences in order to acquire admission, and that he used his membership “for his own personal achieve as an alternative to for the advantage of DMG CC.”
The suit accuses Fenton of fraud, breach of fiduciary duty, and negligence, and seeks $30 million in damages.
Fenton’s attorney, John R. Baldivia, issued this response:
“We discover it fascinating that our client, who was responsible for placing together the deals for both ‘Iron Man 3’ and DMG’s ownership of Valiant (too as a lot of other effective endeavors that DMG now brags about) is now around the getting end of a cross-complaint concerning his performance as a former DMG employee. As we have stated before, we are going to enable the facts to speak towards the truth about DMG’s actions, at the same time because the actions of our client.”
A DMG spokesperson shot back: “Once again, Fenton is looking to take credit for work he didn’t do. He made a mess of those deals, which other individuals had to clean up.”
As I started reading Chris Fenton’s Feeding the Dragon: Inside the Trillion Dollar Dilemma Facing Hollywood, the NBA, and American Business, I started to come towards the realization that the author may well not be what he claims to be.
His descriptions are granular, as he goes into wonderful detail with regards to all of the essential security required to protect one of the biggest movies stars in the world.
The thrilling cliffhanger of those initial few chapters?
Can the author convince Iron Man portrayer Downey not to put on a mask for the premier on account of the badly polluted air?
This task wouldn't be performed by a person operating a multi-billion dollar company, working as an integral liaison among the Chinese government and also a titan of your US film sector.As I study further in to the book, it became abundantly clear that I was not reading a memoir of a person who had essentially completed all these impressive accomplishments he writes about.
Fourth, and perhaps most significant, one have to know how to navigate the byzantine workings of your Chinese government to safe work permits, exhibition rights, and so on.
The fans of world-renowned series Game of Thrones have been on a rollercoaster ride recently as they received one shocking announcement after another.
The three most notable pieces of news contained:Cancellation of the much-awaited GOT prequel that even had a known cast and pilot.GOT and Disney runners David Benioff and DB Weiss leaving for a forthcoming Star Wars trilogyHBO announcing another prequel for Game of Thrones named House of the Dragon.Ryan Condal, best known for Colony, is going to write the show while George R.R.
The series is inspired by Martin’s 2018 released Fire and Blood, and as the name suggests, it is going to focus on House Targaryen.
The show is said to consist of 10 episodes and will showcase the civil war amidst the Targaryen dynasty.
The timeline in the show will be 300 years before the events of Game of Thrones.The fans would love to know that the pilot for the series is going to be directed by Miguel Sapochnik.
Michael has previously worked on several GOT episodes, including Battle of the Bastards and Hardhome.
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The Feeding Systems Market is projected to reach USD 1,474.1 million by 2023, at a CAGR of 8.34% between 2017 and 2023.
Growing number of dairy farms across the globe, continuous technological advancements in the feeding management and new product launches, and substantial cost savings associated with feeding management are the factors expected to drive the growth of the feeding systems market during the forecast period.
Increased investments by governments across the globe for the development of livestock farms and cost optimization in managing these farms are also expected to fuel the growth of the feeding systems market during the forecast period.
It has been at the forefront of innovating products and solutions, such as DeLaval VMS voluntary milking system, DeLaval opti-feeding systems, DeLaval AMR automatic rotary milking solution, and Herd Navigator.
In 2015, the company acquired Uniform-Agri (Netherlands), which is a leading information management systems provider for dairy farmers.
This acquisition helped the company in increasing its geographical reach and enhancing its product portfolio.
