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InfoWars Files for Bankruptcy As Alex Jones Faces Legal Costs
On Sunday, the Media outlet InfoWars filed for bankruptcy protection as legal costs continue to rise against its founder. Alex Jones, founder, and host of InfoWars is on the hook for multiple defamations and emotional distress lawsuits.
This emanated from his claims that the Sandy Hook shooting was a hoax. In addition, two other companies related to Jones, Prison Planet TV, and IW Health, also filed for bankruptcy.
RELATED: Alex Jones Liable For Damages in Sandy Hook Defamation Case
InfoWars Facing Chapter 11 Bankruptcy Following Mounting Legal Issues Against Jones
Previously, Jones repeatedly insisted that the 2012 Sandy Hook shooting did not happen. He said it was a fake event made up by gun control activists and mainstream media.
Crisis actors allegedly faked the shooting so that the federal government could take away guns and enact gun control.
In fact, the massacre left twenty children and six educators dead. As a result of Jones’ claims, survivors and families of the victims took him and his company to court over his statements.
They sued Jones and his company for defamation and emotional distress, among other charges.
The plaintiffs also alleged that Jones’ supporters harassed and threatened them because of the host’s claims of a hoax. Since the trials, Jones conceded that the shooting did happen.
Courts Yet To Determine Total Damages
“Alex Jones is just delaying the inevitable,” said Christopher Mattei, the lawyer for the victims in the Connecticut lawsuit. “He will be held accountable for his profit-driven campaign of lies against the Sandy Hook families who have brought this lawsuit.”
As a result, InfoWars had to file for bankruptcy last week. Courts in Connecticut and Texas found statements from Jones and his employees liable for damages.
These courts have yet to determine the extent of damages in either case. On Monday, Jones told his listeners that he is now “totally maxed out” financially.
In addition, he urged his followers to contribute money or buy products from his company website.
$50,000 In Assets and $10 Million in Liabilities
Describing itself as a “conspiracy-oriented website and media company,” InfoWars said it had $50,000 or less in assets. However, the company also held between $1 million and $10 million in liabilities.
As of April, Jones and related holding companies spent $10 million on legal fees and costs. Creditors listed in the filing include relatives of some of the Sandy Hook victims.
Unfortunately for Jones, his company is facing a lot more lawsuits in connection with the Sandy Hook shootings.
The company said that once the Texas case determines the damages, InfoWars will no longer have any resources left for the Connecticut lawsuit. Incidentally, the Texas lawsuit against Jone will start jury selection next week.
Jones and InfoWars Faces Other Cases As Well
Jones’ media company is also a defendant in several other lawsuits. This includes an article written about the Parkland, Florida shooting at Marjory Stoneman Douglas High School.
In addition, another lawsuit alleges that Jones diverted some of his assets to avoid being held liable for damages. He allegedly transferred ownership of some assets to his or his family member’s companies.
As for InfoWars’s looming bankruptcy, there is yet no clear indication of what will happen to the company.
However, Jones’ companies requested the court to consider their Chapter 11 protection application on an emergency basis by April 22.
Watch the NBC News reporting that Alex Jones' Infowars Files For Bankruptcy:
Loading ...What do you think about InfoWars’ decision to file for bankruptcy? Will this affect the current court proceedings against them? Also, will bankruptcy prevent the victims from getting their damage claims against Jones and his companies?
Let us know what you think. Share your comments below.
