Now, news has come to light that not only has Cheyenne Mountain Entertainment filed for Chapter 11 Bankruptcy protection, but they've also severed all ties with Gary Whiting -- former Chairman and CEO of CME. Add to that, the shareholders and Cheyenne Mountain have joined forces against Whiting in civil case (CV2010-003106) filed in Maricopa County, naming many other ventures including the curious "interactive social network," MMOGuls Inc. as co-defendants, in a civil complaint "alleging various wrong doing against the Company."
A statement detailing the company's current status was posted today to the Stargate Worlds forums. We've included it behind the break for those interested. In the meantime, let's hope that the change in leadership, combined with a reorganization under Chapter 11, and the release of Stargate: Resistance proves to be the boon that Cheyenne Mountain needs to get back on track -- and into the black.