Thursday, June 27, 2013

Maker Studios, Co-Founder In Legal Battle

Danny Zappin, one of the founders of Maker Studios, is not happy with his ouster. Zappin--who was replaced as CEO of the company in May--has filed suit against Maker Studios, plus co-founders Ben Donovan, Lisa Donovan, and Ynon Kreiz, plus investors Mark Suster (of GRP Partners), Dana Settle (of Greycroft Ventures), Rachel Lam (Time Warner Investments), Michael DiSanto, GRP Partners, Mida Holdings California, and Angula Investors. Zappin claims breach of contract and fraud in removing him as CEO. The lawsuit, according to reports, seeks removal of the company's board and monetary damages.