R.i., Two Backers Of Failed Venture Reach Settlement

PROVIDENCE, R.I. — Rhode Island has reached a $25.6 million settlement with two of the financial backers it sued over a disastrous deal with former Red Sox pitcher Curt Schilling’s 38 Studios video game company. The state’s Commerce Corp. announced Tuesday that it has agreed to the proposed settlement with Wells Fargo Securities and Barclays Capital Inc. The settlement was filed Tuesday in Rhode Island Superior Court and is contingent on the court’s approval. The company founded by Schilling moved from Massachusetts to Rhode Island in 2010 after the state’s economic development agency agreed to give it a $75 million loan guarantee.