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Florida sues over Digital Domain grant

Jul 25, 2014 - The Deal Pipeline
Bankruptcy

The Florida Department of Economic Opportunity has sued former directors, investors and advisers of defunct visual effects company Digital Domain Media Group Inc. for their roles in an alleged scheme to defraud the state.

The complaint, filed Tuesday, July 22, in the Circuit Court of the 19th Judicial Circuit for St. Lucie County, Fla., alleges the defendants made false representations before and during a grant process to obtain funding that Digital Domain needed to pay off secured debt an...