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Judge Approves 1st Settlement in 38 Studios Case

 
Judge Approves 1st Settlement in 38 Studios Case

NewsRadio 920 WHJJ and the Associated Press

PROVIDENCE, R.I. (AP) — A judge has approved the first settlement made in the lawsuit brought by the state's economic development agency over the $75 million state loan guarantee with 38 Studios, the failed video game company started by former Boston Red Sox pitcher Curt Schilling.

Superior Court Judge Michael Silverstein on Tuesday approved the $4.4 million settlement between the agency formerly known as the Economic Development Corp. and lawyer Antonio Afonso and his firm, Moses Afonso Ryan.

Moses Afonso worked on the sale of the bonds that financed the deal.

Silverstein also dismissed a lawsuit brought by the EDC's former deputy director, Michael Saul. He accused lawyers for the EDC of giving him bad legal advice that he relied on as the agency struck the deal with 38 Studios.

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