Former CEO Sues Telltale

Kevin Bruner, co-founder of Telltale Games is suing his former company, a little over a year after stepping down from the CEO position at Telltale. The Marin Independent Journal has the details (thanks The Verge), saying Kevin is seeking to recover financial damages after being cut off from information relevant to the value of his holdings in the company. Here's word:
Bruner, who remained on the board, says the company was contractually obligated to provide him informational support as he prepared to sell his holdings in common and preferred stock, his lawsuit says. He says he hired an investment banker and attracted interest from potential buyers.

But then company brass cut off communications with him as he was getting ready to sell the holdings, the suit alleges. Around the same time, in September 2017, Telltale hired Peter Hawley, a former executive at the Zynga game company, as chief executive. Telltale said Connors would move to an “advisory role.”

At that point, Bruner says, he was purged from Telltale’s board of directors. Bruner alleges the shareholder bloc that forced him out did not hold enough stock to cast legitimate votes.

“The net effect of Bruner’s alleged removal from the board of directors was that Bruner was deprived of relevant insight into the management and financial state of Telltale and the value of its shares,” the lawsuit says.

Bruner filed the lawsuit in Marin County Superior Court in late February, claiming breach of contract and other allegations.

In a response, lawyers for Telltale said Bruner’s suit was “meritless” and filed “as an apparent means of extracting revenge on a company already under financial strain.”

“The Company is now working to turn around the decline that it experienced under Plaintiff’s stewardship,” Telltale’s filing said.

An ensuing reply by Bruner’s lawyers accused Telltale of “baseless and careless accusations of petty revenge.”

Judge Roy Chernus has rejected an initial attempt by Telltale to defeat the lawsuit outright, ruling there are issues that appear to deserve further examination.