The Securities and Exchange Commission suspended the trading of Georgia-based Medient Studios stock Wednesday over questions of accuracy and publicly available information about the company.
Medient Studios created a buzz more than a year ago in Effingham County near Savannah when it proposed a massive filming complex. But after a year of hype and talk, there is no construction and the company’s stock value, which was $2.33 last July, trades for less than a penny a share.
The studio recently fired its CEO, Manu Kumaran, and new leaders promised in a conference call with shareholders that the company still planned to forge ahead with producing movies in multiple languages for the world market.
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