The Rhode Island Economic Development Corporation (EDC), the quasi-public group that granted the $75 million taxpayer-guaranteed loan to 38 Studios, has filed a lawsuit against the architects of the 2010 deal. WPRI reports the defendants include 38 Studios founder Curt Schilling and CEO Jennifer McLean, former EDC executive director Keith Stokes, Wells Fargo Securities, Barclays Capital and many, many more.
"I know you work hard for your paychecks, and for your tax dollars to be squandered is unacceptable. The board's legal action was taken to rectify a grave injustice put upon the people of Rhode Island," Governor Lincoln Chafee said in a prepared two-and-a-half-minute statement posted on YouTube (found after the break).
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Architects of 38 Studios' $75M loan sued by Rhode Island EDC
originally appeared on Joystiq
on Thu, 01 Nov 2012 12:50:00 EST. Please see our terms for use of feeds
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