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Florida sues failed Digital Domain to recoup millions in taxpayer funds

The state of Florida filed a lawsuit Tuesday seeking to recoup millions of taxpayer dollars provided to the failed Digital Domain film visual effects company, the Associated Press reported. The lawsuit was filed by the Department of Economic Opportunity in St. Lucie County Circuit Court against Digital Domain Media Group and a number of other entities. Digital Domain had promised to create about 500 jobs at a Port St. Lucie animation studio and a West Palm Beach film school, but it filed for bankruptcy in 2012.

The lawsuit contends Digital Domain defrauded the state out of $20 million in seed money by misrepresenting its debt problems and other allegedly fraudulent acts. The company also got $62 million in funding from St. Lucie and Palm Beach counties. Its shutdown resulted in 280 layoffs.

Florida sues failed Digital Domain to recoup millions in taxpayer funds 07/22/14 [Last modified: Tuesday, July 22, 2014 6:19pm]
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