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Settlement in Schilling’s failed Rhode Island deal ends case

PROVIDENCE — A judge approved a $16 million settlement with the final defendant in the 38 Studios case Friday, ending the lawsuit over Rhode Island’s failed $75 million deal with former Boston Red Sox pitcher Curt Schilling’s video game company.

Superior Court Judge Michael Silverstein approved the settlement after hearing from lawyers for both sides: the state’s economic development agency and Dallas-based Hilltop Securities Inc.

Hilltop was formerly the First Southwest Co., the state’s financial adviser on the deal, and agreed to pay $16 million.

The total settlements in the case were about $61 million. Other parties previously settled, including Schilling and other 38 Studios executives, lawyers, and companies that worked on the deal, and officials at the economic development agency. No company officials admitted liability.

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