zenith16
Avenger
- Joined
- Apr 17, 2008
- Messages
- 37,410
- Reaction score
- 227
- Points
- 48
Stargate Worlds is not resting in peace as new lawsuit emerges
(3 hours ago)
Sci-fi, MMO industry, Stargate Worlds, News items, Legal
8
Travel back two years to when Cheyenne Mountain Entertainment was filing for bankruptcy and (unsuccessfully) attempting to sever ties with Gary Whiting, Chairman and CEO of the company. Stargate fans watched as their hopes for an MMO were dashed.
Fast forward to present day, when Stargate Worlds appears back in the news. Unfortunately for fans, it has nothing to do with offering a sliver of hope that the game itself might also revive; instead, more lawsuits are being filed against Whiting and other Cheyenne employees.
The newest lawsuit filed in Arizona includes 17 plaintiffs who accuse Whiting of misleading investors in various ways to obtain their cash. Some of the allegations leveled at Whiting include "negligent misrepresentation, breach of fiduciary duty, common-law fraud and securities fraud"; he's also accused of issuing loans to himself from the company's funds -- money that may still be in Whiting's possession, according to Cheyenne Mountain's court-appointed receiver, Keith Bierman of Phoenix-based MCA Financial Group.
(3 hours ago) Sci-fi, MMO industry, Stargate Worlds, News items, Legal
8
Fast forward to present day, when Stargate Worlds appears back in the news. Unfortunately for fans, it has nothing to do with offering a sliver of hope that the game itself might also revive; instead, more lawsuits are being filed against Whiting and other Cheyenne employees.
The newest lawsuit filed in Arizona includes 17 plaintiffs who accuse Whiting of misleading investors in various ways to obtain their cash. Some of the allegations leveled at Whiting include "negligent misrepresentation, breach of fiduciary duty, common-law fraud and securities fraud"; he's also accused of issuing loans to himself from the company's funds -- money that may still be in Whiting's possession, according to Cheyenne Mountain's court-appointed receiver, Keith Bierman of Phoenix-based MCA Financial Group.
- Via: TenTonHammer
- Source: The Arizona Republic
- More coverage: Stargate Worlds official site
