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A JUDGE HAS cleared Peter M. Cannava, Wells Fargo lead banker on the $75 million in bonds for the video game company 38 Studios, of all charges related to an SEC complaint arguing that the R.I. Economic Development Corp. (predecessor to the R.I. Commerce Corp.), EDC officials, Wells Fargo and Cannava defrauded investors in the issuance of the bonds. Cannava was the only defendant not to settle with the SEC.

Judge rules in favor of Wells Fargo banker in 38 Studios...

PROVIDENCE – Peter M. Cannava, the lead banker on the bonds for 38 Studios at Wells Fargo, has had claims alleging that he aided...
A FEDERAL JUDGE issued preliminary approval to a settlement between the St. Joseph Health Services of Rhode Island Retirement Plan and CharterCARE Community Board, St. Joseph Health Services of Rhode Island and Roger Williams Hospital. Attorney Stephen Del Sesto is the court-appointed receiver for the St. Joseph pension plan. / PBN FILE PHOTO/MICHAEL SALERNO

St. Joseph pension plan $12M settlement with some defendants get preliminary...

PROVIDENCE – A settlement between Stephen Del Sesto, receiver and administrator of the St. Joseph Health Services of Rhode Island Retirement plan, and CharterCARE...
THE R.I. SUPREME COURT affirmed a decision that upheld Cranston Mayor Allan W. Fung's pension reforms for public safety workers. The city had settled with most members of the pension plan, but a group of pension members opted out and continued litigation against the city. / PBN FILE PHOTO/MICHAEL SALERNO

Was the R.I. Supreme Court right to side with Cranston in...

Nearly three years after R.I. Superior Court ruled in favor of Cranston in its bid to sharply curtailed cost-of-living adjustments for police and firefighter...
THE R.I. SUPREME COURT affirmed a decision that upheld Cranston Mayor Allan W. Fung's pension reforms for public safety workers. The city had settled with most members of the pension plan, but a group of pension members opted out and continued litigation against the city. / PBN FILE PHOTO/MICHAEL SALERNO

R.I. Supreme Court sides with Cranston over public safety retirees in...

PROVIDENCE – The R.I. Supreme Court ruled in favor of Cranston in a long-standing legal battle over frozen pension benefits filed by a group...
LEGISLATIVE RECEPTION: Lobbyist George Zainyeh, left, speaks with Northern Rhode Island Chamber of Commerce President and CEO John Gregory, center, and Robert Wheeler, owner of dog day care center Friends of Toto in Pawtucket, during the Rhode Island Chamber of Commerce Coalition’s annual legislative reception at the Statehouse on March 26.  
 / PBN PHOTO/MICHAEL SALERNO

Does Rhode Island have too many chambers of commerce?

Perhaps all you need to know to answer the question is that in a state of 1 million people and 39 municipalities, there are...

Legislation shows a lack of courage in General Assembly

As they say, timing is everything. And in this case, it’s just a little scary.On April 29 General Treasurer Seth Magaziner issued a report...
THERE WERE SIX responses to an RFP for the redevelopment of McCoy Stadium and development of downtown Pawtucket. / COURTESY R.I. COMMERCE CORP.

Commerce receives 6 proposals for McCoy redevelopment/downtown Pawtucket

PAWTUCKET – The R.I. Commerce Corp. received six proposals for the reuse of McCoy Stadium and the redevelopment of downtown Pawtucket, Commerce RI announced...

Commerce RI issues RFP for McCoy Stadium, Downtown Pawtucket Redevelopment Area...

PROVIDENCE – The R.I. Commerce Corp. issued a request for proposals April 2 on behalf of Pawtucket, seeking a new tenant for McCoy Stadium...
THE R.I. COMMERCE CORP. and Pawtucket have issued an RFP for the redevelopment of McCoy Stadium and other properties in the Pawtucket Downtown Redevelopment Area. The RFP expresses a strong interest for a professional sports team and/or concert entertainment operator for the project. / COURTESY R.I. COMMERCE CORP.

Commerce RI issues RFP for McCoy Stadium, Downtown Pawtucket Redevelopment Area...

PROVIDENCE – The R.I. Commerce Corp. issued a request for proposals Tuesday on behalf of Pawtucket, seeking a new tenant for McCoy Stadium as...
WELLS FARGO has agreed to pay $812,500 to the SEC to settle charges related to the financing of 38 Studios.

Wells Fargo agrees to $813K settlement to SEC over 38 Studios...

PROVIDENCE – Wells Fargo Securities LLC has agreed to a $812,500 settlement with the Securities and Exchange Commission over its role in the 38...
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