38 Studios litigation update planned for EDC
PROVIDENCE, R.I. (AP) — The board of the Economic Development Corp. is scheduled to be briefed on possible litigation related to the state's $75 million loan guarantee to Curt Schilling's now-defunct video game company.
The agenda for the board's Monday meeting says members will discuss and consider "litigation and related matters" in connection with 38 Studios. The EDC hired an outside law firm in June to determine whether there's any third-party liability related to the agency board's 2010 approval of the loan guarantee.
38 Studios filed for bankruptcy in June.
Attorney Max Wistow has reportedly reviewed hundreds of thousands of EDC documents and done dozens of interviews. Gov. Lincoln Chafee said this week a special litigation subcommittee, on which he sits, is exploring its options and there "could be litigation."