$12.5 million settlement approved in 38 Studios lawsuit

    
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Three years after 38 Studios blew up and saddled Rhode Island taxpayers with more than $112 million in debt, a $12.5 million lawsuit settlement was approved by Superior Court judge Michael Silverstein. A previous settlement of $4.37 million brings the total amount of recouped money to $16.87 million.

Economic Development Corporation attorney Max Wistow told Turnto10.com that the latest settlement was “a step in the right direction. It’s a great deal of money.”

Silverstein overruled the objections of defendants Curt Schilling, First Southwest, and Wells Fargo, and said that he would release confidential case documents. However, Turnto10 reports that attorneys can now file motions to keep certain pages from becoming public. The site also says that former 38 Studios boss Schilling has asked for all case documents to be made public.

Source: Turnto10
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schlag sweetleaf
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schlag sweetleaf

Observer98 schlag sweetleaf A Dad Supreme

Observer98
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Observer98

schlag sweetleaf A Dad Supreme 
<i>If A Red Sox legend pitched a financially unsound MMO investment idea over and over would a state government be stupid enough to buy into it?</i>
Fixed that for you!

fakepants
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fakepants

Kanbe Whoops! Yeah, Poe’s Law strikes again. :)

slavetoguilt
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slavetoguilt

bobuliss30 Yeah, I remember playing it on the PS3 when it was on play station +. It was actually a pretty solid game. It was like an MMO w/o all the MMO bs.

phoenix0401
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phoenix0401

Xijit A Dad Supreme I’m more intrigued by the next wave of crowdfunding, equity crowdfunding. That has a lot of potential to really change the way game companies (and companies in general) operate. It will be short lived through because eventually someone will swindle a couple hundred idiotic investors and the SEC will crush equity crowdfunding.

But, getting back to game companies, the issue is that gamers are really much better than venture capitalists at predicting what is going to be successful. The sheer hours required to be a venture capitalist means you probably aren’t more than a recreational gamer. By letting individual gamers invest and earn money that can be funneled into other projects you’re really opening up the industry to innovators.

Goronmon
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Goronmon

Armsbend This is all law folks.  I know you guys are gamers but try to get your
minds around facts and figures and not emotion all of the time.
“But law” isn’t really a convincing argument. You haven’t provided any more facts and figures than anyone else posting here, with as much emotion as anyone else.

phoenix0401
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phoenix0401

sfrees80 More than enough blame to go around in this mess. There are no good guys and bad guys. (And this is coming from someone who thinks Schilling gets a lot more grief than he deserves in many cases.)

phoenix0401
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phoenix0401

A Dad Supreme The article seems to have a political ax to grind (shocker from Slate, I know) but I agree with the general point. It never made sense for a government to fund this. Companies go belly up all the time. And despite the fact that Curt has always been a gamer, there was no indication he was capable of making a successful RPG. That might be the hardest genre of all to make since success absolutely requires strong mechanics (which he had) and good writing (which he didn’t).

Kanbe
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Kanbe

Sorry I should have added /sarcasm to the end of my post. Guess it didnt come across on text how it sounded in my head lol.

Kanbe
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Kanbe

Sorry I should have added /sarcasm to the end of my post. Guess it didnt come out as sarcastic when I typed it as it sounded in my head lol