We first heard about RED Digital Cinema at the NAB conference last April, where the company was showing off a $17,500 behemoth of a camcorder that shoots 11.4 megapixels at up to 60 fps and comes packed in a futuristic magnesium-alloy case. Earlier today we received word that the southern California-based startup experienced a break-in on Saturday night local time, wherein documents relating to the upcoming Red Digital Camera and possibly even some hardware were stolen. Founder Jim Jannard has posted on DVXUser.com a reward of $100,000 for information that leads to the arrest and conviction of the perpetrators, although if this is in fact a case of corporate espionage, the damage may have already been done.

[Thanks, Curt & Glenn]