MoviePass director quits, says management kept him in the dark

A MoviePass director has left the struggling company’s board, claiming that management kept him in the dark about crucial information and made it impossible to do his job.

Economist Carl Schramm cited “concerns about the corporate governance” at MoviePass in an Aug. 25 resignation letter sent to MoviePass parent company Helios and Matheson chairman Ted Farnsworth.

A “number of business decisions” were presented to the board of directors without enough time for them to examine documents, Schramm said in the letter, which was revealed by the company in a Thursday securities filing.

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