Phillip Feiner, former president and CEO of post-production house Pacific Title & Art Studio, has sued his former employer for wrongful termination and breach of contract.
According to the complaint, filed Monday in L.A. Superior Court by Bonnie Eskenazi of Greenberg Glusker Fields Claman & Machtinger, Feiner was ousted from the post-production house after a 30-year tenure because he refused to inflate the company’s value in connection with a pending sale by defendant Safeguard Scientifics.
Pacific Title did not return a call seeking comment.
The suit alleges that Feiner’s computer files, both professional and personal, were destroyed, including family photographs and financial records; his wife’s employment also was terminated; and the company has withheld medical benefits. The motive for this treatment, according to the complaint, is to force Feiner into walking away from his contractual severance package.
The company claimed the destruction of computer files was the result of a computer virus, but the suit alleges intentional destruction.
The suit alleges that in 2005, after Safeguard had taken charge of operations, Feiner was told to concentrate on the sale of Pacific Title. When asked to approve projected revenues for the company, Feiner refused because they were grossly inflated. Shortly thereafter, Feiner was told his contract would not be renewed. A month later, his employment was terminated. The following day, Pacific Title was sold for $23 million to an investment group led by Celerity Partners, a private-equity fund, stage-venture capital firm Ticonderoga Capital and venture capitalist William Daniels. .
The suit seeks $10 million for wrongful termination as well as an amount in excess of $3 million for breach of his employment contract and an oral contract for a bonus.
Feiner began working as a cameraman at Pacific Title in 1977, when it was a family-owned business.