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US Securities And Exchange Testimony To Be Subject Of Latest 38 Studios Hearing

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Testimony is slated to be heard during a session Friday, related to the state’s lawsuit over 38 Studios. One of the defendants being sued by the state,...

Testimony is slated to be heard during a session Friday, related to the state’s lawsuit over 38 Studios.

One of the defendants being sued by the state, Wells Fargo Securities, is trying to obtain the SEC testimony of Michael Saul. Saul is a former deputy director of the state’s economic development agency.

Wells Fargo argues that Saul’s testimony about his role in the state’s $75 million loan guarantee to 38 Studios is important to the company’s case. The state is objecting to Wells Fargo’s request for the testimony, in part because the company did not seek it before the end of discovery.

In related news, Superior Court Judge Michael Silverstein is expected to use the hearing to schedule a trial for the state’s lawsuit over 38 Studios. 

RI Statehouse
RI Statehouse