Economic agency to meet on 38 Studios lawsuit
The Rhode Island economic development agency that is suing Curt Schilling over his video game company's collapse has scheduled a special meeting related to the litigation.
The board of the Commerce Corp., formerly called the Economic Development Corp., will meet on Monday. The agenda says the board may seek to convene in executive session.
The EDC sued the ex-Red Sox pitcher and others after 38 Studios went bankrupt, saying its board was misled into approving a $75 million loan guarantee for the company in 2010. The state is on the hook for about $90 million.
The General Assembly this session passed legislation designed to encourage out-of-court settlements. Lead EDC attorney Max Wistow said it would help maximize any financial recovery.
Wistow has declined to discuss any settlement talks.