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1540 WADK.com Updates

38 Studios Lawsuit To Proceed

The lawsuit against those who engineered the huge failed loan guarantee to 38 Studios is being allowed to proceed.  A state judge is denying a stay of the lawsuit sought by one of the defendants as the state Supreme Court reviews whether a law passed this year can apply to the case.  The 14 defendants are accused of convincing the former state Economic Development Corporation to provide a 75-million-dollar loan guarantee to 38 Studios.  The company had already collected 49-million-dollars when they closed in 2012.



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