Curt Schilling Et Al to Settle Part of 38 Studios Lawsuit

Curt Schilling, three other defendants and Starr Indemnity & Liability Co. have agreed to “participate” in their part of a $2.5M settlement filed by the State of Rhode Island . The settlement will still need court approval. The lawsuit was filed after 38 Studios failed to make a $1.1M interest payment and subsequently declared bankruptcy a month later. According to the published report, Rhode Island has recouped approximately $45M of the $75M in bonds issued at the time of the loan.