Alex Jones hit with $45.2 million defamation verdict — but could pay much less | Big Indy News
Connect with us

Tech

Alex Jones hit with $45.2 million defamation verdict — but could pay much less

Published

on

A Texas jury has ordered Alex Jones to pay around $45.2 million for spreading a false conspiracy theory about the Sandy Hook Elementary School shooting. The punitive damages come on top of a $4.1 million verdict from yesterday, potentially marking a major blow to Jones’s Infowars media empire. But the number could be vastly reduced by limits built into the Texas legal code, which caps damages on defamation punishments.

The jury handed back its verdict on Friday after hearing testimony about Jones’s finances — something he’s allegedly taken significant steps to obscure. It included an assessment that Jones’ company Free Speech Systems was worth at least $130 million; previous testimony indicated its annual revenue in recent years has been $50 million or above. Jones claimed in court that a fine of $2 million or more could “sink” Infowars.

As Bloomberg explains, Texas law caps punitive damages at twice the level of compensatory economic damages per defendant plus a maximum of $750,000 for non-economic damages. Jones’ attorneys plan to file for a reduction of the fine based on that rule, something the plaintiffs’ attorneys told Bloomberg they will “certainly litigate” if necessary.

This concludes one of three trials involving the parents of children who were killed at Sandy Hook in 2012, an event Jones and other Infowars employees claimed had been staged. The plaintiffs — Scarlett Lewis and Neil Heslin — had asked for $150 million.



Read the full article here

Tech

‘No Cooperation’: How Sam Bankman-Fried Tried to Cling to FTX

Published

on

“Sam this is an excellent pick and I wholeheartedly hope you sign this tonight,” Mr. Dexter wrote in an email on the evening of Nov. 10. “The faster John is in place, the faster the company can resolve issues that require urgent progress.”

A flurry of emails followed. In a message at 3:38 a.m. on Nov. 11, Mr. Miller asked for an update on Mr. Bankman-Fried’s decision. “I am chatting with Sam,” responded Ken Ziman, a lawyer at the firm Paul Weiss who was representing Mr. Bankman-Fried.

Ten minutes later, Mr. Ziman confirmed that Mr. Bankman-Fried had signed the document, authorizing Mr. Ray to take over FTX. The company filed for bankruptcy a few hours later.

The filing was hardly the end of the chaos. The court submission listed more than 130 corporate entities tied to FTX, including its U.S. arm and Alameda, the hedge fund. But the filing was inaccurate: Some of the entities were not owned by the exchange. They belonged to AZA Finance, a separate company that had recently become partners with FTX to promote crypto in Africa.

FTX later acknowledged the error. But in a Nov. 11 Slack message to Mr. Miller and other officials, Elizabeth Rossiello, the chief executive of AZA Finance, called the mistakes in the bankruptcy filing “a storm of wild irresponsibility.”

“This is hurting 9 years of work we have done to create this platform!!” she wrote.

Mr. Miller responded defensively. “We had no cooperation of the founders in preparing this week,” he said. “It was unfortunate.”

Mr. Bankman-Fried was also frustrated. Despite giving up control of FTX, he continued contacting possible investors about new funding for the exchange. In a letter to former colleagues last week, he said he regretted filing for bankruptcy, claiming that “potential interest in billions of dollars of funding came in roughly eight minutes after I signed the Chapter 11 docs.”

He presented no evidence for that claim, and in any case, FTX was no longer his company to run. On the morning of Nov. 11, Mr. Miller moved quickly to make that clear, requesting the deletion of information about the firm’s old leadership from its website.



Read the full article here

Continue Reading

Tech

The best Cyber Monday deals available now

Published

on

Below, we’ve rounded up the best Cyber Monday deals you can currently get, whether you’re in the market for a 4K OLED, a gaming laptop, or another piece of big-ticket tech that would normally require you to shell out your entire paycheck. We’ve included a number of budget-friendly items, too, just in case you’re looking for chargers, a cheap(er) pair of earbuds, or other essential gadgets to round out your arsenal.

Read the full article here

Continue Reading

Tech

The best Lego deals for adults on Cyber Monday

Published

on

You probably know that Lego isn’t just for kids anymore — it’s a pricey hobby for adults, too! And it didn’t help when The Lego Group raised its prices this year by up to 25 percent. But today is Cyber Monday, and some of today’s deals more than make up for those price hikes.

But do you see the incredibly detailed Lego Ideas Tree House above, the one whose price Lego hiked from $200 to $250? It’s on sale for $175 today at Amazon and Walmart — and that’s the kind of deal I aspire to bring you here.

Read the full article here

Continue Reading

Trending