If you were not aware, Edward Kramer, one of the founders of Dragon*Con has been charged with criminal acts of pedophilia and also uses the profits from the show to pay for his legal defense. This has led to a large number of fans boycotting the event. Well, now the Board of Directors have managed to legally push him out of ownership, merging the company into Dragon Con, Inc. with a cash-out merger. Kramer, unhappy with the move, plans to sue.
Here is the press release:
The Board of Directors and Shareholders of Dragon Con / ACE, Inc., producer of Dragon*Con, Atlanta’s internationally known pop culture, fantasy and sci-fi convention, have agreed to merge the company into Dragon Con, Inc. (Dragon Con) in a cash-out merger. Led by Pat Henry, David Cody and Robert Dennis, ownership of Dragon Con includes five of the six founding owners of Dragon Con / ACE (the old Dragon Con). The effective date of the merger is July 8, 2013.
Edward Kramer, who has not had any role in managing or organizing the convention since 2000, was offered cash for his shares in the old company. Financial terms of the transaction were not disclosed. “This decision only affects the ownership of the old Dragon Con,” said Pat Henry, President and Chief Executive Officer of Dragon Con. “Our members and others who attend Dragon*Con 2013 will experience the same fantastic convention they have come to expect from us.”
Dragon Con will continue the agreements with each of the host and overflow hotels associated with the convention as well as all of the guests and performers scheduled to appear at this year’s event, either “as is” or with amendments recognizing Dragon Con as owner.