This is the first in a series of blog articles relating to the topics to be discussed at the 30th Annual Media and the Law Seminar in Kansas City, Missouri on May 4-5, 2017. Blaine C. Kimrey and Bryan K. Clark of Vedder Price are on the planning committee for the conference. In this article, we explore recent developments related to “champerty,” which involves the funding of a lawsuit by a person with no direct interest in the case. The topic of revenge and retaliation against the media through litigation funding will be one of the topics at the 2017 seminar.
Earlier this month, Hulk Hogan settled his lawsuit against what remains of Gawker Media for $31 million, bringing to an end years of litigation that resulted in a stunning $140 million verdict that rocked the media defense bar. But the lasting implications of the case that ultimately shuttered Gawker.com remain unclear. For lawyers who defend media entities, the Gawker case is viewed as a cautionary tale of bad facts making bad law and the dangers of going against an adversary funded by an enemy with deep pockets. But not everyone agrees with this perspective. Speaking recently to the National Press Club, Peter Thiel (the billionaire who funded Hogan’s litigation) seemed to suggest that it was Hogan, rather than Gawker, who was unable to get fair treatment in the courts. “One of the striking things is if you are middle class, upper middle class, a single-digit millionaire like Hulk Hogan, you have no effective access to our legal system,” Thiel said. “It costs too much.”
Continue Reading What Hath Hulk Wrought – Media Girds for Battle vs. Billionaires