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38 Studios may have 'actively masked' its financial hardship
Just when you thought the world might let the wound where 38 Studios and Kingdoms of Amalur were ripped from your heart heal over, along comes some new drama. Max Wistow, the lawyer for the Rhode Island Economic Development Corporation, filed documents on behalf of the state claiming that 38 Studios needed more than $75 million in loan guarantees before the company ever moved to Rhode Island. He argues that folks at 38 Studios knew that the funds they were receiving from the state would be insufficient. The company netted about $50 million from an EDC bond sale, and Wistow is claiming "crushing evidence" that 38 Studios actively masked its financial shortfall.
