Article. Peter Thiel, the high-tech billionaire, funded the tort suit by Hulk Hogan against the provocative website, Gawker. Now Gawker wants us to know that it would like to sue Thiel. In the modern era of litigation funding, I'm curious as to what theory Gawker could pursue. Excerpt:
Gawker Media is exploring options for litigation against Peter Thiel following the billionaire venture capitalist’s secret funding of lawsuits against the media company. According to a source within Gawker, the company’s legal team is looking to see if Thiel, who said he spent about $10 million funding other people’s suits, violated any laws.
“The lawyers are exploring whether this could be a case of tortious interference, racketeering or other potential claims,” said the source.
Gawker’s potential action against the early Facebook investor and PayPal cofounder comes after it filed for bankruptcy protection on Friday. That followed the decision by a Florida judge to deny Gawker’s request to stay a ruling that required it to pay $140 million to former wrestler Hulk Hogan. In March, a jury ruled that Gawker had violated Hogan’s privacy by publishing a sex tape of him with his friend’s wife and awarded him $115 million. The court later bolstered that amount by an additional $25 million for punitive damages.