Commerce RI reaches $16M settlement in 38 Studios lawsuit

R.I. Commerce Corp. has agreed to a $16 million proposed settlement with Hilltop Securities Inc. (formerly First Southwest Company) in the 38 Studios litigation.
R.I. Commerce Corp. has agreed to a $16 million proposed settlement with Hilltop Securities Inc. (formerly First Southwest Company) in the 38 Studios litigation.
(Updated 11:02 a.m. and 12:03 p.m.) PROVIDENCE - R.I. Commerce Corp. on Wednesday announced a $16 million proposed settlement with First Southwest Co., a former financial adviser for the state when it invested $75 million into the now-defunct video game company 38 Studios LLC. The settlement is the final one in a string of settlements…

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