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Worldwide Stages, an entertainment company with a production facility in Spring Hill, has reduced its board of directors from five members to three after defaulting on five short-term loan agreements with Valiant Wealth Management.

According to a Dec. 1 filing with the U.S. Securities and Exchange Commission, a special-called shareholder meeting was held Nov. 27 to remove Doug Vander Weide and Pete Fisher from the company’s board of directors. The two were removed with 69.57 percent of votes for their removal.

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