PORT ST. LUCIE, Fla. — Less than a year after going public, the digital production company founded by director James Cameron has filed for Chapter 11 bankruptcy protection and agreed to sell the core of its business to a private investment firm for $15 million.
The downward spiral was swift. The company went public just 10 months ago, selling nearly 5 million shares at $8.50 each, below the expected $10 to $12 range. Drifting to the $5 range by spring, the stock then spiked as high as $9.20 following huge reaction to the Shakur hologram, with the performance garnering 15 million YouTube hits within 48 hours and winning a top award at the creative marketing gathering Cannes Lions.
One of the biggest shareholders in the company is former Miami Dolphins quarterback Dan Marino, who is listed in bankruptcy filings as owning 1.6 million shares. From the high to Tuesday's closing price of 55 cents, his holdings have lost $13.6 million in value.
Digital Domain, based in Port St. Lucie, Fla., has studios in California and Canada that create digital visual effects, animation and digital production for the entertainment and advertising industries. The company had spent the past few years building a new animation studio in Port St. Lucie, using millions in incentives from the city and the state...
ESTERO, FL - An FGCU student died last week after he allegedly attacked another man in a drug-induced rage and then jumped off a third floor balcony.
Deputies found Sean Cavanaugh, 18, on the ground with an apparent head injury when they arrived at the Coastal Village Apartments, on Syracuse Lane in Estero, just before 10 p.m. on August 30th.
Friends say Cavanaugh, who lived there, had been taking an unknown substance earlier in the day. The man Cavanaugh attacked, 22-year-old Cameron Patrick Keller, told deputies he thought it was LSD or acid.
Witnesses told deputies Cavanaugh started yelling at everyone in the apartment. He then attacked Keller with a broken beer bottle, according to the incident report, stabbing him near the hip.
Cavanaugh reportedly then ran out of the apartment, talking about suicide and guns, went up to the third floor, down a hallway and then jumped off the balcony, hitting the second floor on the way down.
Deputies were told he landed face-first on the pavement...