InfoWars parent company files for bankruptcy, #InfoWars #parent #company #files #bankruptcy Welcome to OLASMEDIA TV NEWSThis is what we have for you today:
InfoWars’ parent company, the far-right outlet of conspiracy theorist Alex Jones, has filed for bankruptcy.
Free Speech Systems LLC filed for bankruptcy on Friday as Mr. Jones, the founder, and the company could face damages of as much as $150 million in lawsuit over the lies pushed by Mr. Jones about the Sandy Hook shooting elementary school in 2012 in Newtown, Connecticut.
The bankruptcy of Free Speech Systems LLC would normally lead to the end of the process, which takes place in Austin, Texas, but according to a court filing, the company plans to ask a bankruptcy judge to continue the process.
The company hopes an emergency hearing will be held on Monday Reuters.
Mr. Jones and the company could attempt to use the bankruptcy case to limit the amount of damages awarded by a jury.
Three other InfoWars entities proposed $10 million to end the case in April, well below the amount put forward by the families of the Sandy Hook victims.
That proposal also added protection from the lawsuits for Mr. Jones and his company.
Those three entities, InfoW, IW Health and Prison Planet, have already filed for bankruptcy and voluntarily dropped their lawsuits last month when the Sandy Hook families removed them as defendants in the defamation lawsuit.
Last year, Mr. Jones was held liable in the lawsuits filed by the Sandy Hook families after his false claims that the school shooting was fake.
Those rulings came after Mr. Jones went against court orders and refused to hand over documents related to the case.
The cases have since been prepared for lawsuits to decide the damages. The first started in Austin.
Mr Jones has alleged that the shooting – which killed 26 people, 20 children and six staff members – was faked by those pushing for stricter gun control measures, aided by the press.
He has since admitted that the massacre took place.
The restructuring advisor for Free Speech Systems, Marc Schwartz, said in a lawsuit that it is in the company’s best interest to continue the ongoing process to assess the damage, as both parties have spent large amounts of money.
The Sandy Hook families said the April bankruptcy filing was a “sinister” attempt to protect Mr Jones’ assets from liability.
In regards to the most recent bankruptcy filing, Mr. Schwartz said the lawsuit related to Sandy Hook has resulted in InfoWars being cut off from major Internet, social media and financial institutions and its business diminished as a result.
Attorney Mark Bankston represents the Sandy Hook families. He texted Reuterssaying “our clients are delighted that despite the bankruptcy, their trial will continue and the jury will reach a verdict”.
“Now InfoWars is going straight to its long-awaited reckoning,” he added.