Send News. Want a reply? Read this. More in the FAQ.   News Forum - All Forums - Mobile - PDA - RSS Headlines  RSS Headlines   Twitter  Twitter
Customize
User Settings
Styles:
LAN Parties
Upcoming one-time events:

Regularly scheduled events

38 Studios Bankrupt; FBI Investigating

38 Studios has declared bankruptcy, a company spokesman tells The Providence Journal, and the paper also reports that the Rhode Island State Police inform them that state and federal authorities have launched an investigation into the videogame company founded by former major league pitcher Curt Schilling (thanks Nomaar). They don't have details on the nature of the inquiries, saying simply that Rhode Island State Police superintendent Col. Steven G. O'Donnell says that his agency, the FBI, the U.S. Attorney's office, and the Rhode Island attorney general "are working together to investigate activities that have recently come to light at 38 Studios." In 2010 38 Studios secured a now-infamous $75 million in loan guarantees from Rhode Island to relocate to the ocean state, and trouble repaying that loan preceded the layoff of their staff last month. Here's the statement from the company about its bankruptcy:

"This action comes after several weeks when the company has reviewed, considered and received the recommendations and advice with respect to potential avenues for relief that are currently available. After ongoing negotiations with the State of Rhode Island and potential investors and other interested parties, the Company has been unable to find a solution to the current stalemate."

Post Comment
Enter the details of the comment you'd like to post in the boxes below and click the button at the bottom of the form.

43. Re: 38 Studios Bankrupt; FBI Investigating Jun 8, 2012, 13:50 Agent.X7
 
Verno wrote on Jun 8, 2012, 09:19:
Agent.X7 wrote on Jun 8, 2012, 01:26:
Oh good, you've got your little research hat on.

Err, why would doing research be considered a bad thing? Most people would rather someone researched their opinion as opposed to just forming it based on political bias. I haven't seen anyone really lay out a case where this company would have been rainbows and sunshine if the big bad governor had left them alone either, they were obviously in dire financial straits even before this whole mess got started.

Doing research isn't bad. Not that looking up who was RI governor when was really research. I know it was two different governors, I've stated that many times before.

The company was courting investors who fled after Chafee publicly - and with intent to cause investors to flee - made scathing comments about the company.

But, I'm not wasting more time on this. Clearly people will believe what they want regardless of facts. They can call me a fanboy all they like. I've stated before that 38 made some stupid decisions, but Chafee made it clear he was gunning for them from the start. Mission accomplished. I hope RI tax payers have fun paying for this mess, since they voted this idiot into office. (No, he didn't create the mess, but he made sure the taxpayers were going to foot the bill.)
 
Avatar 23400
 
Origin - JStarX7
STEAM - Agent.X7
PSN - JStar_X7
Xbox Live - Agent X7
Reply Quote Edit Delete Report
 
Subject
Comment
     
 
      ;)   ;)   :(   :(   :o   :o   %)   %)   :)   :)   :|   :|   ;P   ;P   X|   X|   :D   :D   More
 
Login Email   Password Remember Me
If you have a signature set up, it will be automatically appended to your comment.
If you don't already have a Blue's News user account, you can sign up here.
Forgotten your password? Click here.
 
          Email me when this topic is updated.
 

Special Codes

  • b[bold text]b
  • i[italic text]i
  • u[underline text]u
  • -[strikethrough text]-
  • c[code text]c
  • +[bullet point]+
  • q[quote text (indented)]q
  • [quote="Author"]quote text (indented)[/quote]
  • [url=Link]text[/url]
  • r{red text}r
  • g{green text}g
  • b{blue text}b
  • m{maroon text}m
  • s{secret text (shows in the background colour)}s

Forum Rules

  1. Disagree all you want but attacks of a personal nature will not be tolerated.
  2. Ethnic slurs and homophobic language will not be tolerated.
  3. Do not post spam, links to warez sites, or instructions on how to obtain pirated software.
  4. Abusing the forums in any manner that could be construed as 'griefing' will not be tolerated.


footer

Blue's News logo