Try digitalPLUS for 10 days for only $0.99
Topics

Financially Distressed Companies

Florida accuses former Digital Domain Media officers of fraud

Florida accuses former Digital Domain Media officers of fraud

The state of Florida has filed a lawsuit against the former officers of Digital Domain Media, accusing them of defrauding the state and local governments out of $82 million. Digital Domain Media was the former owner of the Venice visual effects company co-founded by James Cameron, who directed "Titanic" and "Avatar." The company filed for bankruptcy protection from creditors in September 2012 after incurring heavy losses and making a series of costly investments, including building an animation studio in Port St. Lucie that closed. The closing resulted in 280 layoffs. Digital Domain also launched a new animation and digital arts institute in West Palm Beach,...

Loading

82°