Tuesday August 18, 2015

Latest 38 Studios Settlement Will Net $9.9M For Rhode Island

38 Studios is back in the news again. After paying back only $713k to the state of Rhode Island 2 years ago, the courts have recently reached a settlement with fourteen defendants to recoup an additional $12.5 million ($9.9 million after attorney fees).

According to WPRI, only 79 percent of the total settlement proceeds from that $12.5 million figure will go towards paying down the ongoing debt related to the 38 Studios loan deal. After legal fees, the state will get around $9.9 million.

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