38 Studios lawsuit depositions started this week with EDC financial loan adviser

By Stephany Nunneley
26 October 2013 22:07 GMT

Depositions in the 38 Studios lawsuit brought upon the company by the Rhode Island Economic Development Corporation (EDC) stated this week. The first set of questioning started Thursday with an executive at First Southwest, which served as financial adviser to the agency in its $75 million loan to Curt Schilling’s now defunct game studio. Former EDC executive director Keith Stokes and deputy director Michael Saul are set to be questioned in November. A lawsuit accusing the Kingdoms of Amalur developer of “fraud, negligence, breach of fiduciary duty, racketeering and conspiracy” as well as misleading Rhode Island’s economic development agency was  brought against the company by the state, with other defendants including four former 38 Studios executives and its insurer. Via The Charlotte Observer (Polygon).

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