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:
Chicago, IL 11/17

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."

Email Digg Facebook Twitter   Share More    


 

   Current Headlines
Battleborn Gets Supercharged
More on PLAYERUNKNOWN'S BATTLEGROUNDS Success
Steam Top 10
Op Ed
On Sale
Gatherings & Competitions
Sunday Mobilization
Sunday Metaverse
Sunday Tech Bits
Sunday Legal Briefs
Hardware Reviews
etc.
Out of the Blue
Grand Theft Auto OpenIV Returns
Battlestar Galactica Deadlock Video Tease
More F1 2017 Classic Cars
Gatherings & Competitions
Saturday Mobilization
Saturday Metaverse
Saturday Safety Dance
  

 




Blue's News is a participant in Amazon Associates programs
and earns advertising fees by linking to Amazon.



footer

Blue's News logo