Due to the multiple lawsuits that Alex Jones is facing, Reuters reports that Infowars filed for voluntary Chapter 11 bankruptcy on Sunday in the U.S. Bankruptcy Court for the Southern District of Texas.
Chapter 11 bankruptcy processes hold all civil litigation issues and let companies organize turnaround strategies while staying functional. A court recently found Jones liable for damages in a trio of suits last year following his false claims that the 2012 Sandy Hook school shooting was a hoax.
Furthermore, the Sandy Hook families declined Jones’s offer to settle their defamation suit and reopened the case in late March. The radio host had proposed to pay $120,000 to each of the 13 plaintiffs to settle the case.
“The so-called offer is a transparent and desperate attempt by Alex Jones to escape a public reckoning under oath with his deceitful, profit-driven campaign against the plaintiffs and the memory of their loved ones lost at Sandy Hook,” the plaintiffs stated in court documents.
Jones argued the shooting, in which 20 children and six school employees died in the shooting at the school in Newtown, Connecticut, was manufactured by gun-control supporters and mainstream media, leading to lawsuits from the families.
According to court filings by the company on Sunday, InfoWars detailed its estimated assets in the range of $0-$50,000 and estimated liabilities in the field of $1 million to $10 million.
Eduardo Razo is the Assistant Content Editor for BNM, which includes writing daily news stories on the news media industry. He can be found on Twitter @eddierazo_ or you can reach him by email at eddie1991razo@gmail.com.
