Ex-CEO sues Pacific Title
Feiner says he was wrongfully firedFormer Pacific Title & Art Studio president and CEO Phil Feiner filed suit Monday against Pacific Title and its former owner, Safeguard Scientifics.
In papers filed with Los Angeles Superior Court, Feiner — who after 30 years with the company was dismissed in March, just before the company's sale — claimed wrongful termination and breach of written contract in a list of complaints.
"It has become clear that the then-corporate owners of Pacific Title had devised a sinister plot to oust Feiner from the company because he refused to falsely inflate the company's value in connection with the pending sale," the suit alleges.
Pacific Title was sold in March by holding company Safeguard Scientifics for $23 million to an investment group led by private-equity fund Celerity Partners, stage venture capital firm Ticonderoga Capital and venture capitalist William Daniels.
The filing continues, "In the months since his termination, although defendants have admitted that they owe Feiner his severance package, they have steadfastly refused to pay him even one dime of what they admit they owe, including payment for health benefits."
Noting that the dismissal occurred before the company sale, Daniels said, "We believe the responsibility falls to Safeguard."
Safeguard declined comment.
Feiner is asking for unspecified monetary damages. He is represented by Greenberg Glusker Field Claman & Machtinger.
In February, Feiner and several colleagues were the recipients of an Academy of Motion Picture Arts and Sciences Scientific and Engineering Award for Pac Title's Rosetta digital film restoration process. Feiner also was involved in the creation of the company's digital imaging division in 1989.
He is a member of AMPAS (visual effects branch), the Academy Science & Technology Council, chair of the digital archival research project of the SciTech Council, an associate member of the ASC and an affiliate member of the ACE.