The more this Cheyenne Mountain Entertainment fiasco continues, the more I get the feeling Gary Whiting is going to come back as a Freddy Kreuger-style character who attacks CME employees in their sleep.
This month, Cheyenne Mountain Entertainment, developers of the comatose Stargate Worlds, joined the lawsuit against Gary Whiting, former chairman and big time investor at CME. Gary Whiting is being sued by investors of Cheyenne Mountain Entertainment for alleged wrongdoings against the company. According to the complaints, Whiting failed to honor terms of the agreement, and also failed to make payments to investors based upon said agreements. As Whiting had named ties between MMOGULs, an alleged MMO portal ponzi scheme, and Cheyenne Mountain Entertainment, it was only a matter of time before Cheyenne became involved in the lawsuit.
When Cheyenne ME joined the lawsuit, Gary Whiting was removed from the board, fired, and all ties with him were severed. Unfortunately for Cheyenne, and any unlucky employee who may have bad mouthed Whiting on his way out, the court has ruled against removing Whiting from the board of directors, from the court papers below:
As to Plaintiffs’ request for a TRO, the Court finds insufficient grounds to remove Mr. Whiting and Mr. Safiulla from the board of directors; the Court similarly finds insufficient grounds to appoint independent directors to the board of directors.
That being said, Cheyenne did manage to secure a “receiver” to protect the company’s assets while they continue their forage into Chapter 11 bankruptcy. For the time being, at least, Whiting isn’t going anywhere.
More on Cheyenne Mountain Entertainment as it appears.
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