Ross Lincoln and Jen Yamato are Deadline contributors.
2ND UPDATE, 8:15 PM: After Chris Beall’s confirmation that he has been removed from his position at Platinum Studios, Deadline spoke by phone to both Beall and Scott Rosenberg for additional comment. Beall for his part remains adamant that Rosenberg’s tenure atop Platinum has been defined by mismanagement, reiterating in particular his claim that the transfer of a controlling share of Platinum Studios stocks was unethical because, he alleges, it is “an entity that Scott does have an ownership stake in.” Rosenberg disputes those claims without reservation, and speaking exclusively to Deadline, he said “I do not control Rip at all, and that’s from any legal standpoint, as anyone who would want to look at SEC records, accounting records, all legal avenues one can see, I do not control Rip.” Deadline has been told that further comment on the matter by Rip Media will follow.
1ST UPDATE, 3 PM: Platinum Studios‘ Chris Beall received a legal letter from the company saying he was voted out as president and director — the morning of an investors call that was to address Beall’s move earlier in the week to oust CEO Scott Rosenberg. The letter, dated yesterday at 10:45 AM, confirms that a majority share of the company’s shareholders had voted Beall out. (Beall alleges that 790 million of the voting shares owned by Rip Media were illegitimately transferred by Rosenberg before the shake-up.) The board reconstitution left Rosenberg and Glenn Eggert as the only remaining directors, with Rosenberg named as the company’s Chairman, CEO, President, Secretary, CFO, and Treasurer. The vote came after Beall issued a letter of suspension to Rosenberg on Monday (read that one here) and sent an email (read it here) to investors and board members outlining the reasons for his actions. He set up a call for yesterday at 7 PM but neither Beall or Rosenberg were on it.