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Legislation introduced to resolve 38 Studios lawsuit
The ongoing saga of 38 Studios and the state of Rhode Island continued on Wednesday courtesy of Governor Lincoln Chafee introducing a new piece of legislation to the state assembly. Specifically targeting the ongoing lawsuit, the legislation would be used as an inducement for the former company to settle with the state out of court rather than go through the lengthy process of a trial by ensuring that the named defendants will not face further litigation on the same causes. In more conversational terms, the bill states that if the defendants in the lawsuit settle out of court, they cannot be sued again in Rhode Island courts by other people over the closure of the company or other similar charges. Whether or not this will provide sufficient incentive for Curt Schilling and the other 13 defendants named in the lawsuit to simply settle remains to be seen.
SEC subpoenas the Rhode Island Commerce Corporation over 38 Studios lawsuit
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.
Rhode Island governor calls Project Copernicus 'a lot of junk'
Were you surprised that Project Copernicus didn't manage to sell at auction? Rhode Island governor Lincoln Chafee wasn't. In recent statements to the associated press, Chafee stated that the property was "a lot of junk" and decried every step of the loan process for 38 Studios. In the governor's own words: "People just panicked and gave a retired baseball player a huge amount of taxpayer money with no experience in this industry or any other businesses." Curt Schilling (the second key player in this ongoing drama, with the other being the state of Rhode Island) responded to the governor's statements on Twitter, claiming that a failure is obvious in hindsight. He also cited Chafee's current job approval numbers, suggesting that the state as a whole would like the opportunity to re-do its gubernatorial election. Richard Land, the man in charge of auctioning Project Copernicus and other 38 Studios assets, is allegedly still looking for private buyers for the IP.
