Chris Fenton Accused of Masquerading as ‘Player’ as DMG Lost Millions

30 juin

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 extra info about Feeding the Dragon

In a counterclaim, DMG blasts Fenton as a disloyal employee who sophisticated his own interests at the company’s expense. The suit alleges that Fenton “cultivated his persona of a ‘player’” in the market even while losing millions of dollars.

“Fenton was terminated for his poor performance, 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 reduce out on the profits from the company’s IPO. Fenton claims his put his reputation around the line to defend DMG from an SEC investigation into probable 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 acquire of a $30 million jet in addition to a $20 million mansion in Beverly Hills, Calif. He also alleges that the founders have run the company in to the ground.

The counterclaim accuses Fenton of sloppy business practices, such as failing to execute adequate due diligence or retain appropriate business records. “He either was unable or unwilling to carry out even the most simple 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 make live shows in China featuring the Transformers characters. DMG alleges that the shows were delayed, and that Fenton’s production partner, S2BN, allowed its licensing deal with Hasbro to expire. The shows have been in no way created.

“Fenton was driven by his own ego and wish for personal glorification in the public eye; as a way to cultivate the persona of a ‘player,’ his priority was having a deal ‘done,’ in lieu of looking out for the most effective interest of DMG CC,” the suit alleges.

The suit also accuses Fenton of producing misstatements to the Academy of Motion Picture Arts and Sciences to be able to gain admission, and that he used his membership “for his personal personal acquire rather than for the benefit of DMG CC.”

The suit accuses Fenton of fraud, breach of fiduciary duty, and negligence, and seeks $30 million in damages.

Fenton’s lawyer, John R. Baldivia, issued this response:

“We locate it interesting that our client, who was accountable for placing with each other the deals for both ‘Iron Man 3’ and DMG’s ownership of Valiant (also as quite a few other effective endeavors that DMG now brags about) is now around the getting end of a cross-complaint regarding his performance as a former DMG employee. As we’ve got mentioned before, we will let the details to speak to the truth about DMG’s actions, as well because the actions of our client.”

A DMG spokesperson shot back: “Once once more, Fenton is trying to take credit for work he didn’t do. He produced a mess of these deals, which other folks had to clean up.”

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