Officials with Medient Studios are still declining to comment on a statement by founder and board chairman Manu Kumaran, who tells GPB he’s been forced out of the company based near Savannah.
The company is planning a conference call with stockholders at 4:15 p.m. Eastern Time Thursday. A publicist says Medient’s Jake Shapiro will speak with reporters after the call. Shapiro is described as a “financier and serial entrepreneur” on the company’s website.
The publicist is referring questions to Medient’s corporate affairs chief, Jay Self. He’s declining to discuss the report until the company’s board of directors makes a statement. Self is the former director of the Savannah Film Office.
In his email statement to GPB, Kumaran says he was forced out as Chairman, CEO, and majority voting rights holder at Medient. He says he’s “stunned and deeply saddened by the events” and plans to fight the action. Kumaran and his attorney have declined to provide more details.
UPDATE 2:57 p.m.: Pankaj Kapoor, a co-founder of Medient, confirms to GPB that he is also out.
Medient is in the midst of a $90 million development project in Effingham County.