Platinum shareholders try to oust Rosenberg as chairman

Platinum shareholders try to oust Rosenberg as chairman

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We’ll have a more retailed report on this in the morning, but the short version is that shareholders in Platinum Studios—one of whom is suing Scott Rosenberg—held a shareholders meeting today with the express purpose of ousting Rosenberg as chairman. No one from Platinum showed up and the following letter from Platinum president Chris Beall was sent out:

Dear Scott Rosenberg,

You are hereby notified that as of January 14, 2013, you are suspended of your position as Chairman and Director, and CEO of Platinum Studios, Inc. indefinitely, along with all authority, duties, and entitlement associated with those positions until further notice. You are no longer authorized to act on behalf of, make decisions, or represent Platinum Studios, Inc. in any way whatsoever.

The call today was held amid rumors that Beall had been let go from the company. No Platinum representative showed up.

Founded more than 10 years ago, Platinum has had its ups and downs, most recently up with COWBOYS & ALIENS and then down when the film underperformed. A switch to a publicly traded penny stock backfired when angry shareholders saw no return on investment and a lawsuit was filed over a lack of proper filings and other malfeasance.

Beall was hired last summer as President, according to their last SEC filing.

Platinum stock closed today at $0.0—a value it has held for some time.

We’ll have a full report on this later, but suffice to say, where there’s Platinum Studios…there’s drama.

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