Updated May 4 at 11:04am
38 Studios
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(Updated, 5:12 p.m.) The Securities and Exchange Commission on Monday filed charges against the R.I. Economic Development Corp. and its bond underwriter Wells Fargo Securities, alleging fraud that stems from a 2010 municipal bond offering to finance the now-defunct video game company 38 Studios LLC. more
Those awaiting the start of the civil suit regarding 38 Studios LLC will have to hold out at least a couple weeks longer, as the start date has been pushed back. more
Scrawled on a piece of lined paper buried deep among thousands of court documents is a handwritten note: "OK to be bold, but this is as aggressive as we've done." The word "aggressive" is underlined and there's an arrow pointing at … more
The state legislature is likely to subpoena former Boston Red Sox pitcher Curt Schilling to compel him to testify regarding the demise of 38 Studios LLC, but the summons is unlikely to carry much power outside of the state. more
A R.I. Superior Court judge on Friday is expected to hear arguments about whether the court should order U.S. Securities and Exchange Commission testimony of J. Michael Saul to be included in an ongoing civil suit regarding 38 Studios LLC. more
1You recently led WBEZ/Chicago Public Media. How do Providence's and Rhode Island's audiences compare? American audiences in every town or city have high aspirations for the public-media institution that serves their community. But no two … more
The R.I. Commerce Corporation had an operating loss of $13.9 million for fiscal 2015, associated primarily with the legal costs connected with 38 Studios LLC, according to an audit approved by the corporation’s board of directors Wednesday night. more
Former Gov. Donald L. Carcieri deflected a number of red flags raised by a high-ranking cabinet member about the proposed financing deal subsequently approved for the now-bankrupt video game company 38 Studios LLC founded by former Boston Red Sox pitcher Curt Schilling. more
Investors know that there is no such thing as a low-risk, high-gain investment. Which brings us to 38 Studios LLC. More than five years after the state backed $75 million in bonds to bring the video game developer to the Ocean State from up … more
Despite a renewed call to stop repayment of state moral obligation bonds issued for the now-bankrupt 38 Studios LLC, Fitch Ratings Inc. expects payments will continue and has reaffirmed an AA rating with a stable outlook for the state’s general obligation bonds and consolidated capital development loans. more
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