RI Lawmakers Fast-Tracking 38 Studios Settlement Bill

According to an Associated Press report, lawmakers in the state of Rhode Island are doing everything they can to fast track a bill that would make it easier for the Economic Development Corp. to settle its lawsuit against executives from 38 Studios and other parties being sued on behalf of the state.

The Senate plans to vote on the bill as soon as Thursday and is being described as one of the most significant votes so far this legislative session. A House committee reviewed the legislation Tuesday but did not vote.

If passed by both houses, the bill would shield any party that decides to settle with the state from a "lawsuit filed by a co-defendant over damages for which a co-defendant is found liable."

Last year Rhode Island's Economic Development Corp. sued former Red Sox pitcher and 38 Studios founder Curt Schilling, along with 13 others involved in a $75 million loan deal that went bad after 38 Studios went bankrupt.

The agency’s lawyer says the bill would help maximize any potential financial recovery and would put an end to the legal battle.

Source: AP

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