Latest in Gaming

Image credit:

Rhode Island EDC sues Curt Schilling and more over 38 Studios loan

Share
Tweet
Share
Save

Sponsored Links

Back in May, Project Copernicus developer 38 Studios became embroiled in the controversy of the year when the studio officially shut down and fired all 379 of its employees. The story quickly turned political as the studio had been granted a loan of $75m US by the state of Rhode Island and it became known that the tax-paying public could be hit for an estimated $150.7m US due to the studio's closure.

The story of mishandled taxpayer money has played a big part in the politics of Rhode Island. Today that story developed further as the Rhode Island Economic Development Corporation (EDC), which granted the original loan and may therefore be responsible for the public debt, filed a lawsuit against the people who created the deal. The defendants named in the case include 38 Studios founder Curt Schilling, CEO Jennifer McLean, former EDC executive director Keith Stokes, Wells Fargo Securities and even Barclays Capital. Rhode Island Governor Lincoln Chafee released a public statement about the lawsuit on YouTube.



All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
Tweet
Share
Save

Popular on Engadget

Engadget’s guide to Home Entertainment

Engadget’s guide to Home Entertainment

View
Facebook Portal review (2019): A redesign doesn't ease privacy fears

Facebook Portal review (2019): A redesign doesn't ease privacy fears

View
AMC is launching its own on-demand movie service

AMC is launching its own on-demand movie service

View
GoFundMe's new platform is just for charities and nonprofits

GoFundMe's new platform is just for charities and nonprofits

View
The Morning After: Listing 'basically everything' launching with Disney+

The Morning After: Listing 'basically everything' launching with Disney+

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr