A lot of people might think that the video game industry won't have its fill of drama and chaotic lawsuits. In fact, like all companies and organizations, this industry's history is riddled with its own legal and political issues as well. Such is the case with the company behind the critically acclaimed RPG "Kingdoms of Amalur: Reckoning," 38 Studios and former Major League Baseball star Curt Schilling.
According to The Associated Press via Gamespot, Curt Schilling, who also founded the studio, and three other executives agreed to pay 2.5 million dollars to settle the case. Schilling's attempt to create a video game company failed miserably, with his own personal 50 million dollar savings invested in the project.
The story behind this issue is a long, arduous and complicated one peppered with twists and turns that has been going on for four years. It was reported that Schilling managed the company so poorly that 38 Studios had declared bankruptcy not long after the release of "Kingdoms of Amalur: Reckoning." The former Major League Baseball star was also eventually in conflict legally with the Rhode Island Commerce Corp., building up a loan of 75 million dollars that Schilling made to transfer the studio to Rhode Island in 2010.
Gameplanet also mentioned after releasing the aforementioned game, the game studio had to let go 379 employees in addition to being declared bankrupt right after, despite the game selling 1.3 million copies in its first 90 days.
The money, however, won't come from Schilling and the three execs and a confession from them won't be needed either. Rather, it will actually be the studio's insurer Starr Indemnity and Liability Co. who will pay the settlement fees.
The lawyers from Rhode Island Commerce Corp. did agree on the 2.5 million dollar payment after analyzing the defendant's asset. Even a trial case won't solve the problem as there is nothing more to exact from them anymore.
The total settlements for the case would now stand at 45 million dollars instead of the initial 75 million dollar loan guarantee. Criminal charges, however, will not be filed.
While the good news is that the 38 Studios may finally rest from this case and move on, it is still unclear whether it will continue from this damaging case.
