A former director of MoviePass' parent company has resigned, claiming executives have mismanaged the business and withheld crucial information from the board. He said he recently learned that management withheld what he called "material information" from the board for several months. He quit Saturday, and MoviePass owner Helios & Matheson (HMNY) made the letter public on Thursday. Helios & Matheson said in a regulatory filing that the company is unaware of any unanswered requests for information by Schramm. "The company firmly believes all board and committee meetings have been duly noticed and held, and no material information has been withheld from any board member," Helios & Matheson said.

Source: CNN August 30, 2018 15:33 UTC