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SEC Investigating 38 Studios Loan

WPRI has word that the U.S. Securities and Exchange Commission is investigating the loan from the Rhode Island Economic Development Corporation to 38 Studios, Curt Schilling's failed video-game startup. This case has been through the legal system more than once already, and they say it's not apparent what the angle is this time: "It's unclear what exactly the SEC is investigating about the 38 Studios transaction, which was finalized in the final months of Carcieri's second term. A lawsuit filed by the EDC last November alleges two top EDC employees, 38 Studios executives and outside advisers all withheld information from the agency's board to win approval of the deal." Thanks GamePolitics.

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