I feel like I've been hearing about 38 Studio's slow descent for a while now... However, there's a huge gap between "hearing about financial woes" and "Not telling child-expecting couple about lack of health insurance". There's really no excuse for that.
Not in this article, but that's what I've heard from everyone who works there or knows people who work there.
None of them knew until a few hours ago, and their email server got completely shut off a few minutes after the initial email went out. The former employees are posting about it all over facebook.