RI board takes up 38 Studios litigation committee
PROVIDENCE, R.I. (AP) -- The board of Rhode Island's economic development agency is considering a step toward possible legal action in connection with its $75 million loan guarantee to Curt Schilling's failed video game company.
At its meeting Monday night, the Economic Development Corp. board is expected to discuss and vote on approving what the agenda calls a litigation subcommittee "related to 38 Studios."
The EDC in June hired an outside attorney to determine whether there is any third-party liability related to the loan guarantee offered in 2010 to Schilling's company, which has filed for bankruptcy.
An EDC spokeswoman said last week the board's discussion is "part of the next step of looking into possible legal action."