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Another Stargate Worlds Lawsuit

An extensive article on AZCentral discusses the most recent court battle over Stargate Worlds following the presumed cancelation of the Stargate MMORPG. They outline a third investor lawsuit, filed in Maricopa County Superior Court in February, seeking approximately $4 million from former Cheyenne Mountain chairman and CEO Gary Whitingand other former Cheyenne Mountain executives, board members and stock promoters. Here's a bit that outlines the allegations of misconduct this involves:

Cheyenne Mountain's court-appointed receiver, Keith Bierman of Phoenix-based MCA Financial Group, said company documents show millions of dollars collected from investors were not spent on development of Stargate Worlds and may yet remain in the hands of Whiting and other former company executives.

Bierman, a bankruptcy consultant appointed by the U.S. Bankruptcy Court to try to save the failed Stargate Worlds project, is in the process of liquidating the company's remaining assets. He is seeking the court's permission to investigate the whereabouts of the missing funds in hopes of returning that money to investors.

"There were a significant number of investments that did not appear to come to the company," he said.

Whiting could not be reached for comment on this story. Court documents show he is not currently represented by an attorney.

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7. Re: Another Stargate Worlds Lawsuit May 13, 2012, 16:33 Lesaonar
 
I knew this was going to fail after the "friends and family" alpha shut down not even a month into it. I don't tend to expect much from early alphas, but this was absolute shite. That was a few years back, if recollection serves correct. One of our guildies did a short stint on the development team. Think he stayed with them for about 6 months before he jumped ship.

Good IP left in the hands of fools who had obviously never seen the series or even remotely had passion for sci-fi.
 
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