Harder, however, turned down multiple offers to settle by Gawker, which is highly unusual for a lawyer working on a contingency agreement, and he intentionally maneuvered during the case to make it such that Gawker’s insurance coverage wouldn’t cover the site’s legal fees, which would also presumably reduce the size of a potential award, as well as Harder’s cut. On Wednesday, after LawNewz revealed that Hulk Hogan (real name Terry Bollea ) and Gawker Media settled for 31 million, one important piece of the story flew under the radar of most news organizations. Harder, was representing the former wrestler on a contingency basis, which means that some portion of his compensation for representing Hogan would be a share of the judgment. The Worst Part Of The Gawker Settlement Has Little To Do With Hulk Hogan.
A new media renegade behaved very much its traditional forebears when it announced. As a result of the settlement, Gawker forwent its appeal and three articles from were taken down, including the one involving Bollea. Gawker founder Nick Denton said in a blog post Wednesday that the group agreed to the settlement, due to monetary reinforcements from German-American PayPal founder Peter Thiel, who is backing Hogan. In the end, proudly iconoclastic Gawker Media and founder Nick Denton raised a white flag. There were several moves throughout the Hogan case and in subsequent suits that indicated some level of retribution may be at play.įirst, the lawyer for Hulk Hogan, Charles J. On November 2, 2016, Gawker Media and Bollea reached a 31 million settlement. Ziff Davis shouldn’t get too excited until the. The practice of “third-party litigation funding,” however, usually is a financial agreement aimed at generating large returns from any potential award in return for cash to litigate the case. Last week, an individual familiar with the company’s operations told TheWrap that Gawker had received multiple bids in excess of 100 million.
It’s not illegal or unheard of for someone not involved in a legal proceeding to bankroll a case.
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