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Curt Schilling Et Al to Settle Part of 38 Studios Lawsuit

Curt Schilling, three other defendants and Starr Indemnity & Liability Co. have agreed to "participate" in their part of a $2.5M settlement filed by the State of Rhode Island . The settlement will still need court approval. The lawsuit was filed after 38 Studios failed to make a $1.1M interest payment and subsequently declared bankruptcy a month later. According to the published report, Rhode Island has recouped approximately $45M of the $75M in bonds issued at the time of the loan.

The commerce corporation has sued several entities, including investment banks, over the deal, which cost taxpayers millions of dollars. After a multi-year investigation, Rhode Island authorities concluded this summer that while state officials made a bad deal, there was no crime committed. At the time, Schilling took to social media to ridicule the investigation as a waste of money.

Read more at The Boston Globe.

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Suzie Ford / Suzie is the Associate Editor and News Manager at MMORPG.com. Follow her on Twitter @MMORPGMom