LOS ANGELES—The 2008 lawsuit that pitted director Michael Ninn and Spearmint Rhino Chairman and CEO John L. Gray against one another following the dissolution of their partnership on Ninn Worx SR (NWSR) was settled last week, according to an announcement today by the parties.
“Michael Ninn and his former partner, John L. Gray of Spearmint Rhino Companies Worldwide, Inc., reached a Mutual Settlement Agreement on Wednesday, December 15, 2010. The Matter has been resolved to the satisfaction of both parties,” the prepared announcement read.
Ninn Worx SR was formed in July 2007 after Gray had approached Ninn with an offer to create a new corporation that would market and distribute Ninn’s films and finance the production of future adult films, according to court documents obtained by AVN. The documents further state that Ninn “contributed to NWSR his 100% interest in [N Worx Media, his production company] in exchange for $1,000 and a 49% share in NWSR.” A trust run by Gray, the John Leldon Gray Trust, would own 51 percent of NWSR, with Ninn serving as chief executive officer.
The partnership would last less than a year. In May 2008, Ninn was relieved of his duties as CEO, and the first in a series of complaints and cross-complaints was filed in Los Angeles County Superior Court in August 2008.
AVN was able to contact Michael Ninn Monday as he was preparing to leave for a holiday vacation. He said he was restricted to scripted comments by his attorneys, and echoed the precise words of the released statement. The tone of his voice, however, indicated that he was relieved that a settlement had been reached, and there was no indication that he was other than satisfied with the outcome.
