House Minority Caucus members call upon governor and attorney general to release all documents related to 38 Studios investigation
STATE HOUSE -- Members of the House Minority Caucus are calling upon Governor Gina M. Raimondo and Rhode Island Attorney General Peter F. Kilmartin to release all documents related to 38 Studios. The House Minority Caucus hopes Governor Raimondo keeps her promise to release the documents now that a settlement with First Southwest has officially been resolved.
Today, the Rhode Island Commerce Corporation announced it has agreed to a $16 million proposed settlement in the state's 38 Studios lawsuit with Hilltop Securities Inc., formerly First Southwest Company. According to the Commerce Corporation, the settlement was filed in Rhode Island Superior Court and is contingent upon court approval.
“Now that Hilltop Securities, the last defendant in case, has agreed to a settlement, it is imperative to release all documents related to 38 Studios to the public,” said Minority Whip Blake Filippi. “To make sure a devastating economic disaster like 38 Studios never happens again, legislators and the public need access to all documents related to the investigation, in order to understand exactly what happened, who knew what and when.”
Last week, Representative Bob Quattrocchi (R-District 41 Scituate/Cranston) introduced House Resolution No. 5190 requesting that the Rhode Island Attorney General and the Rhode Island State Police release all reports related to 38 Studios, to the public. The Resolution has been referred to the House Judiciary Committee.
Representative Quattrocchi stated, “I believe it is the right of the people of the state of Rhode Island, who paid for the investigation, to have the opportunity to review all the reports and documents relating to the investigation, which was originally estimated to cost Rhode Islanders tens of millions of dollars.”
In 2010, the state of Rhode Island offered an unprecedented $75 million financing package to attract Curt Schilling’s video game company to Rhode Island and two years later, Schilling’s company, 38 Studios went bankrupt. It caused hundreds of people to lose their jobs and put the state’s credit rating at risk.
The investigation by the State Police and Rhode Island Attorney General Peter F. Kilmartin included interviews with over 140 people and a review of hundreds of documents.
House Minority Caucus members include House Minority Leader Patricia Morgan (R-District 26 Coventry, Warwick, West Warwick), Senior Deputy Minority Leader Anthony Giarrusso (R-District 30 East Greenwich, West Greenwich), House Minority Whip Blake Filippi (R-District 36 Charlestown, South Kingstown, Westerly, New Shoreham), Representatives Brian C. Newberry (R-District 48 N. Smithfield, Burrillville), Sherry Roberts (R-District 29 Coventry, West Greenwich), Mike Chippendale (R-District 40 Foster, Glocester, Coventry), Representative Ken Mendonça, (R-District 72 Middletown, Portsmouth), Robert Lancia (R-District 16 Cranston), Bob Quattrocchi (R-District 41 Scituate, Cranston), Justin Price (R-District 39 Exeter, Hopkinton, Richmond) and Robert Nardolillo III (R-District 28 Coventry).
For more information, contact:
Raina C. Smith, House Minority Office
State House Room 106
Providence, RI 02903