The US Securities & Exchange Commission on Monday announced that it has charged Wells Fargo Securities and the state agency formerly known as the Economic Development Corporation with defrauding investors in the municipal bond offering used to finance 38 Studios in Rhode Island.
Political Reporter Ian Donnis explains the SEC charges related to 38 Studios and their impact on RIPR's Morning Edition. He spoke with RIPR Morning Host Chuck Hinman.
The 38 Studios lawsuit disclosures have once again cast a cloud over the Rhode Island Statehouse. RIPR political analyst Scott MacKay wonders when Rhode Islanders will finally be fed up enough to bring change to Smith Hill.
RIPR news director Elisabeth Harrison discusses initial findings in the 38 Studios lawsuit documents, released Thursday, with RIPR Political Reporter Ian Donnis and RIPR Political Analyst Scott MacKay.
During a closed session on June 9, 2010, the board of Rhode Island's Economic Development Corporation received a briefing on what then-Governor Don Carcieri suggested was a "fairly significant transaction" that had presented itself to the EDC.
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.
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.