Two investment funds that bought shares of Digital Domain Media Group three months before it collapsed now accuse the animation firm of misleading them about its finances.
The investors, Iroquois Master Fund and Kingsbrook Opportunities Master Fund, paid $1 million each for stakes in Digital Domain in June, when former Chief Executive John Textor’s dream of creating a taxpayer-backed animation hub still seemed possible. Shares became worthless after the company filed for Chapter 11 bankruptcy protection in September.
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