In what is certainly not the final chapter to the long and twisted story of 38 Studios, Curt Schilling, and Kingdoms of Amalur, Rhode Island has announced a $12.5 million settlement with four more defendants from the original lawsuit. To the unfamiliar, 38 Studios headed by former Red Sox pitcher Curt Schilling relocated to Rhode Island on the promise of a $75 million state-backed loan to create their game Kingdoms of Amalur and eventually develop an MMO. Amalur failed to sell and 38 Studios went bankrupt, making the state (ie: its tax payers) liable for paying the rest of the loan.
The state of Rhode Island filed lawsuit against a wide variety of people involved, including Schilling himself, executives, former agencies, and banks involved in the loan. 38 Studios was accused of everything from fraud, negligence, breach of fiduciary duty, and more. The settlement is supported by both sides, with the state looking to recoup what is left of the defendant’s insurance and the defendants simply seeking to end the trial.
There are still other lawsuits ongoing, including one against Curt Schilling himself.
(Source: SF Gate)