keith stokes

Ian Donnis / RIPR

The state Commerce Corporation has agreed to a $12.5 million dollar settlement with four defendants over the collapse of video-game maker 38 Studios, including Keith Stokes, the former head of the state's economic development agency.

The state’s lawsuit over failed video game company 38 Studios will move forward. Superior Court Judge Michael Silverstein dismissed some of the counts, but allowed key parts of the state’s lawsuit to move ahead.

RIPR

Lawyers for the defunct 38 Studios video game company were back in court Wednesday, asking a judge to dismiss a lawsuit brought against them by the Rhode Island Economic Development Corporation. The suit alleges that executives of the defunct Curt Schilling enterprise deliberately misled state officials about the financial viability of the company to gain a $75 million state-backed loan.

The Sunday New York Times is out with Matt Bai's lengthy and well-written overview of Rhode Island's disastrous investment in 38 Studios, former Red Sox star Curt Schilling's bankrupt video game company. Bai's story doesn't offer much in the way of new findings, but it will expose the Ocean State's folly to a broad audience of influentials.

Friday, February 15, 2013

Feb 15, 2013

The RI EDC needs to find a new leader.  Brown University raises its tuition.   These stories and more on the RIPR Morning News Podcast.

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