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More 38Studios Fallout - Judge Orders $12.5M Settlement

38Studios, founded by baseball superstar Curt Schilling, took a loan for $75M from the state of Rhode Island, a loan which the company defaulted on in spectacular fashion after the release of the critically acclaimed Kingdoms of Amalur: Reckoning. In 2012, a suit was filed against twelve defendants (now only eight) in an effort to recoup the loan. On Friday, a judge ordered a $12.5M to be paid by four defendants. This is added to an earlier judgment $4.37M.

Some of the other defendants in the suit, including First Southwest, Schilling, and Wells Fargo, filed objections to the settlement.  Silverstein considered their arguments, but overruled the objections.

The judge initially said he would release confidential documents in the case, currently under seal.  However, attorneys now have the ability to file motions to keep certain pages confidential.

Thanks, Grunty, for the tip!

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