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US Federal Officials Investigating 38 Studios Loan

Posted Jan 03, 2014 by Suzie Ford

US Federal Officials Investigating 38 Studios Loan

The US Securities and Exchange Commission (SEC) has subpoenaed the State of Rhode Island for all documents pertaining to the loan between the state and 38 Studios, the creators of Kingdoms of Amalur. 38 Studios defaulted on the loan with Rhode Island, with the state suing Curt Schilling, founder of 38, and other key members of the staff. The US SEC has requested those documents as well.

The SEC's December request went directly to the New-York based law firm, Cohen & Gresser, that the EDC hired in 2012 to deal with inquiries from the SEC, said Thomas E. Carlotto, of Shechtman Halperin Savage LLP, general counsel for the Commerce Corporation. An EDC spokeswoman confirmed last September that an SEC inquiry had begun earlier.

Read more on the Providence (RI) Journal website.

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