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SEC subpoenas the Rhode Island Commerce Corporation over 38 Studios lawsuit

Eliot Lefebvre

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After the last bit of immature name-calling over the 38 Studios debacle, it must be nice to finally put this whole mess to bed for good so we can... oh, wait. No, it appears that the drama regarding the dead studio continues as the Securities & Exchange Commission has issued a subpoena for the Rhode Island Commerce Corporation regarding its lawsuit against Curt Schilling and the other executives of 38 Studios pre-closure.

The subpoenas request both depositions and exhibits pertaining to the ongoing court case against the management of the former studio. The RICC, formerly known as the Economic Development Corporation, was the organization responsible for selling bonds to facilitate the $75 million loan to the now-defunct gaming studio and has been under investigation by the SEC following the company's bankruptcy and dissolution. Neither the SEC nor the RICC is discussing any further details regarding the investigation.

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