EDC board mulls litigation committee on 38 Studios
PROVIDENCE, R.I. (AP) — The board of Rhode Island's economic development agency is taking a step toward possible legal action in connection with its $75 million loan guarantee to Curt Schilling's failed video gaming company.
The agenda for the Economic Development Corporation board's meeting scheduled for Monday shows members will discuss approving a litigation subcommittee "related to 38 Studios."
EDC spokeswoman Judy Chong on Thursday called the discussion "part of the next step of looking into possible legal action."
The EDC has hired an outside attorney to determine whether the state can recover any money from individuals or groups involved in the 2010 loan guarantee that lured 38 Studios from Massachusetts to Rhode Island.
Schilling's company filed for bankruptcy in June.