The director and founder of the MMORPG Ashes of Creation, which raised $3.2 million from nearly 20,000 backers in 2017, has spoken out after successfully obtaining a restraining order against the board of Intrepid Studios, his own company.

Steven Sharif resigned “in protest” last month, citing discontent with the board’s decisions, which he described as leading to significant layoffs. Since then, a large portion of the game’s leadership has either departed or been let go, and a livestream event that was scheduled for mid-February did not take place.

In a lengthy statement posted on the game’s Discord server on March 6, Sharif revealed, “I filed a lawsuit in federal court in San Diego on behalf of Intrepid Studios’ shareholders against the Board of Directors, chaired by Rob Dawson, along with TFE Games Holdings LLC. I have alleged breaches of fiduciary duty, violations of both federal and state trade secret laws, and wrongful attempts to seize company assets, including its valuable intellectual property, through what I characterize as an unlawful and fabricated insider foreclosure.”

Sharif accused Dawson and his associates of attempting to dismantle the company he helped build alongside the community, aiming to repurpose Ashes of Creation for their personal gain while shifting blame for Intrepid’s struggles onto him through a coordinated public campaign.

He shared that he invested substantial personal resources into Ashes of Creation and Intrepid, but felt compelled to resign on January 19 due to his inability to prevent the board from making wrongful decisions, particularly regarding the firing of employees without appropriate compensation.

According to Sharif, since 2024, the Intrepid board has attempted to shut down the firm and transfer Ashes of Creation to TFE Games, thereby sidelining Intrepid’s long-term shareholders, lenders, employees, and community members, while being responsible for the mass layoffs.

A San Diego court has since granted a temporary restraining order favoring Sharif, which prohibits Dawson and his associates from accessing or using Intrepid’s trade secrets.

“The harm caused by the board’s actions has already been severe,” Sharif stated. “A company that dedicated over a decade to developing a game and a community was abruptly halted, with employees let go without pay or benefits, leaving years of hard work in jeopardy. The consequences for those who devoted their careers to this project and the players who supported it are profound.”

Despite Ashes of Creation currently holding a Mostly Negative rating on Steam, with recent reviews classified as Overwhelmingly Negative, Sharif maintains that the game has generated approximately £6.7 million ($9 million) in gross sales, attracted around 300,000 monthly active players, and boasts nearly 400,000 players on wishlists, in addition to millions of registered accounts.

Sharif further claims that the game achieved a remarkable 76% retention rate for peak concurrent users on day 30, a rarity within the MMORPG sector, especially for titles in early access, explaining why TFE was interested.

“I completely reject accusations of mismanaging company funds, causing the company’s closure, or engaging in any misconduct,” stated the director. “These allegations are attempts to distort the reality of the situation and distract from the board’s decisions.”

Sharif emphasized that he refused to partake in actions he deemed unlawful and detrimental to the company, its investors, employees, and future. Following the shutdown, he has been vigorously fighting in court to demonstrate that the board’s actions were illegitimate while advocating for the rights and interests of the developers, shareholders, and player community.

He also clarified that any claims suggesting he did not initially fund the project are false; he asserts that much of the capital provided to the company came from lenders who based their financing on his personal guarantees and the collateralization of his assets.

According to documents filed by Sharif, the court’s restraining order highlights, “The Court finds the balance of hardships tips sharply toward [Sharif]. Intrepid has already faced damage to its business and reputation due to the likely unlawful foreclosure and sale of its assets to TFE. TFE stands to access the trade secrets and potentially sell them to a third party, which would undermine Intrepid’s ability to bring Ashes of Creation to market.”

Sharif believes that as litigation continues, internal communications, board records, financial documents, and other relevant materials will support his case, providing a clearer understanding of the decisions made and the actual circumstances surrounding Intrepid’s shutdown.

He concluded, “Ashes of Creation was never just a corporate asset to trade. It represents ten years of effort by hundreds of developers and the faith of a community that contributed to its creation.