State of Rhode Island Sues Curt Schilling
The next twist in the story that will not die has reared its fiscally furious head: the State of Rhode Island has filed a suit against Curt Schilling, the former head of 38 Studios (and ex-Red Sox pitching ace), over the developers’ squandering of a $75 million loan provided by the state in 2010 to move his company from Massachusetts. Also named in the suit are the studio’s former CEO Jennifer McLean, as well as Keith Stokes, the former executive director of the Rhode Island Economic Development Corporation, the quasi-governmental entity that organized the loan in the first place.
In the above video Rhode Island Governor Lincoln Chafee explains the events that have led to the lawsuit, noting that the state has hired attorney Max Wistow to lead the legal charge. The state alleges that 38 Studios was never in a position to make good on its plans to finish its Project Copernicus MMO, and thus would never have been able to pay back the loan as scheduled.
What’s going to happen? Well, for starters, Schilling and his family will probably have to move into a smaller house. That’s just good sense.