State strikes $12.5M deal on 38 Studios with 4 defendants

By The Associated Press

news@abc6.com

PROVIDENCE, R.I. (AP) _ Rhode Island's economic development agency has agreed to a $12.5 million proposed settlement with four defendants in the lawsuit over the state's failed $75 million deal with Curt Schilling's video game company 38 Studios.

The Rhode Island Commerce Corporation announced it filed the settlement in Superior Court on Friday with the law firm Adler, Pollack & Sheehan P.C., along with Robert Stolzman, J. Michael Saul and Keith Stokes.

Adler Pollock & Sheehan says it's in everyone's best interests to end the dispute. If approved by a judge, it would be the second settlement.               

A judge previously approved a $4.4 million settlement between the agency and lawyer Antonio Afonso Jr. and his firm, which worked on the sale of the bonds.               

The lawsuit names Schilling and other company executives, former agency employees, investment banks and others.

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