$12.5 million settlement approved in 38 Studios lawsuit


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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