Ex–Gemesis CEO Sues Former Company

Stephen Lux, the ex-CEO of Gemesis who stepped down from that post in December after six years heading the lab-grown diamond manufacturer, is suing his former company for improper termination and breach of his employment agreement.

A complaint, filed Jan. 10 in circuit court for Sarasota County, Fla., charges that Lux has planned to resign in March, but then was terminated without cause by the company. It says Gemesis owes Lux vacation time and certain salary obligations specified by the two parties’ employment agreement.

The legal papers state that on Oct. 31, 100 percent of Gemesis was acquired by Power Capital Ventures Ltd. They also say the company’s managing director is Richard Neil Wilson, a partner in Singapore-based Venture International Corporate Services.

Lux’s attorney and Wilson’s company did not respond to a request from JCK for comment at press time. Gemesis declined comment.

In a statement issued after Lux’s departure, Gemesis, which sells its lab-created diamonds over the Internet, said everything was “business as usual” and that the company had received high-profile press and endorsements.

“We are encouraged by the results we see and believe the future only holds more exciting news and developments,” said director of marketing Marvin DeRoy in a statement.

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