Rhode Island state government has asked a state Superior Court judge to open to the public records related to the state’s civil suit against several financial companies and law firms in the long-running case to recover damages from those involved in the ill-fated 38 Studios bond deal.
Max Wistow, lawyer for the state, argues that the public has a right to know what is happening in the discovery stage of the matter, which has been closed. The defendants, who include Wells Fargo Securities and Adler, Pollock & Sheehan, a Providence law firm, have opposed opening the discovery records to public scrutiny.
In his court filing, Wistow said that the Rhode Island Supreme Court has decreed ```the trial of causes should take place under the public eye.’’
38 Studios was the video-game company run by retired Boston Red Sox pitcher Curt Schilling that collapsed in 2011, leaving R.I. taxpayers on the hook for $75 million in state-backed bond financing. The suit to recover some or all of that money was filed by the administration of former Gov. Lincoln Chafee against the law firms and financial companies that advised the state in the deal.
A hearing on the matter is scheduled for Friday morning (may 8th) before Superior Court Judge Michael Silverstein at the Licht Judicial Complex in Providence.