After coaxing 38 Studios to come to Rhode Island with a $75M loan to create jobs in the state, Gov. Chaffee and Rhode Island Economic Development Corporation (RIEDC) have filed suit against the former development studio, in particular 38 Studios founder and former Major League Baseball pitcher Curt Schilling and former company CEO Jennifer Maclean, as well as banks Wells Fargo and Barclays Capital.
The complaint filed by RIEDC charges the defendents with fraud, unjust enrichment, civil conspiracy, breach of implied covenant of good faith and fair dealing, negligence, legal malpractice, negligent misrepresentation, fraudulent misrepresentations and omissions, and breach of fiduciary duty.
The statement accused, "Defendants knew or should have known, but failed to inform the EDC Board, that 38 Studios was destined to fail according to 38 Studios’ own financial projections."
The RIEDC has requested a trial by jury for all issues.
Rhode Island and Gov. Chaffee suing 38 Studios
01 November 2012 | By JonahFalcon