Gawker Reaches $31M Settlement In Hulk Hogan Case
- 7 years ago
The invasion-of-privacy lawsuit against Gawker Media LLC filed by Hulk Hogan and reportedly financed by Peter Thiel has been settled for $31 million.
The invasion-of-privacy lawsuit against Gawker Media LLC filed by Hulk Hogan and reportedly financed by Peter Thiel has been settled for "$31 million in cash plus a share of creditor proceeds in Gawker’s bankruptcy, according to papers filed Wednesday in Manhattan federal court," reports Bloomberg.
An earlier judgment on the matter awarded Hogan $140 million.
Gawker founder Nick Denton noted in a blog post, "After four years of litigation funded by a billionaire with a grudge going back even further, a settlement has been reached. The saga is over. ..As the most unpalatable part of the deal, three true stories — about Hulk Hogan, the claim by Shiva Ayyadurai that he invented email and the feud between the founders of Tinder — are being removed from the web."
He also commented on the decision to offer a payout rather than pursue an appeal, “All-out legal war with Thiel would have cost too much, and hurt too many people, and there was no end in sight.”
Denton added that bringing the lawsuit to a close, “…allows us all to move on, and focus on activities more productive than endless litigation.”
The invasion-of-privacy lawsuit against Gawker Media LLC filed by Hulk Hogan and reportedly financed by Peter Thiel has been settled for "$31 million in cash plus a share of creditor proceeds in Gawker’s bankruptcy, according to papers filed Wednesday in Manhattan federal court," reports Bloomberg.
An earlier judgment on the matter awarded Hogan $140 million.
Gawker founder Nick Denton noted in a blog post, "After four years of litigation funded by a billionaire with a grudge going back even further, a settlement has been reached. The saga is over. ..As the most unpalatable part of the deal, three true stories — about Hulk Hogan, the claim by Shiva Ayyadurai that he invented email and the feud between the founders of Tinder — are being removed from the web."
He also commented on the decision to offer a payout rather than pursue an appeal, “All-out legal war with Thiel would have cost too much, and hurt too many people, and there was no end in sight.”
Denton added that bringing the lawsuit to a close, “…allows us all to move on, and focus on activities more productive than endless litigation.”