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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...
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...

Despite false start, transformation of Jewelry District taking shape

On a recent gray, autumn afternoon, early rush-hour traffic was backing up along Point Street in the old Jewelry District in downtown Providence. Most...
38 STUDIOS' final assets in receivership were sold for $900,000 to video game company THQ Nordic. The company acquired the intellectual property for "Kingdoms of Amalur" and the unfinished "Copernicus" massively multiplayer online role playing game.

THQ Nordic buys 38 Studios’ remaining assets for $900K

PROVIDENCE – THQ Nordic has acquired the intellectual property of “Kingdoms of Amalur,” among other assets from 38 Studios LLC, the company announced Thursday.The...
PBN PHOTO/MICHAEL SALERNO

Gov. Gina M. Raimondo sees a growing state economy to be...

When Gov. Gina M. Raimondo first ran for governor, the state’s economy was beginning to emerge from the impact of the Great Recession, still...
PROBLEM AREA: The structural problems at Rogers High School in Newport are evident in the water-infiltration damage, which has affected both the interior and exterior of the building, which was completed in 1958. Jeff Watts, the school’s plant engineer, looks at one of the affected areas outside. / PBN PHOTO/MICHAEL SALERNO

Paying for badly needed school upgrades now will limit future borrowing....

Trinity Briceno, a senior at Cranston East High School, didn’t attend school between December and April.She was hospitalized in November after students and teachers...

PawSox owners should pay bigger share of funding for new ballpark

To the Editor: A simple survey asking Rhode Islanders of their interest in minor league baseball and whether or not they would attend games in...
SELLING R.I.: Jesse Saglio, right, the new president and chief operating officer of R.I. Commerce Corp. at a recent public meeting of the agency’s board. He says Commerce will step up its focus on helping local and small businesses this year. / PBN PHOTO/MICHAEL SALERNO

New Commerce RI President Jesse Saglio promises ‘more of the same’...

Since October 2015, Jesse Saglio, 46, has been a key behind-the-scenes player at R.I. Commerce Corp., most recently serving as managing director and head...

R.I.’s leaders need to lead, not follow

We’ve been here before. Gov. Gina M. Raimondo and Speaker Nicholas A. Mattiello are on opposite sides of a public investment.Gov. Raimondo says that...
FRONT-ROW SEAT: Pawtucket Red Sox Chairman Larry Lucchino, at left in the front row, listens during a Senate Finance Committee hearing at the ­University of Rhode Island’s Swan Hall in South Kingstown, during which the team, the public and others provided feedback on the proposed PawSox stadium deal. / PBN PHOTO/MICHAEL SALERNO

A financing plan for a new PawSox stadium leaves the state...

(Editor’s note: This is the first of a two-part series looking at development opportunities in Pawtucket and their implications for the city and state.)Attendees...
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