Wells Fargo Settles SEC Lawsuit Over Curt Schilling’s 38 Studios

SAN FRANCISCO, CA - JULY 14: A Cable Car passes a Wells Fargo Bank branch office on July 14, 2017 in San Francisco, California. San Francisco based Wells Fargo & Co. reported better-than-expected second quarter earnings with profits up 5 percent to $5.8 billion, or $1.07 per share. Photo by Justin Sullivan/Getty Images

Wells Fargo & Co. agreed to settle a U.S. Securities and Exchange Commission fraud lawsuit related to a $75 million bond offering for 38 Studios Inc., a now-bankrupt video game company founded by former All-Star major league baseball pitcher Curt Schilling.

The settlement in principle with the bank’s Wells Fargo Securities unit was disclosed in a Jan. 10 filing with the federal court in Providence, Rhode Island.