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Medient wins round in court against former CEO

POSTED: July 24, 2014 6:43 p.m.
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Jake Shapiro

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The new chief executive officer of Medient Studios said the company got the ruling in its favor from a Nevada judge Wednesday afternoon it anticipated.

Judge Jerome Polaha of Nevada’s Second Judicial Circuit denied former Medient CEO Manu Kumaran’s request for an injunction and to have the company placed under a receiver.

“We’re happy with how the judge ruled,” said Jake Shapiro, now the CEO of Medient. “We expected this outcome. It allows us to put more time and energy into building the studioplex and making movies.”

The temporary restraining order Kumaran was granted July 8 was declared void, Shapiro added. There are other areas of Kumaran’s lawsuit that have been scheduled for hearings next year. Shapiro said they are confident of that outcome “given how unanimously the judge ruled in our favor (Wednesday).”

“It’s sour grapes from a terminated employee,” Shapiro said.

Kumaran was removed last month from his position as CEO after other board members voted to oust him. He filed suit against Medient Studios and the remaining board members June 23 in Washoe County, Nevada, where Medient was incorporated.

A stockholder in the company also has filed suit against the company in Effingham County Superior Court and former Medient vice president Jay Self filed suit earlier this month in Chatham County.

Work has been progressing on the site for the studioplex, which will be built off Old River Road and Interstate 16 in Effingham County.

“We were very careful when the TRO was in effect,” Shapiro said.

He added they have been working closely with architect Bill Foley and expect to have the revised master plan ready shortly for review and discussion.

“We want to get that first building up. “We are excited about the potential of the project,” Shapiro said. “We have a proven track record as a team and we are excited to be working together.”

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