FILE - Infowars founder Alex Jones appears in court to testify during the Sandy Hook defamation damages trial at Connecticut Superior Court, Sept. 22, 2022, in Waterbury, Conn. Relatives of victims of the Sandy Hook Elementary School shooting are asking a bankruptcy judge to liquidate Jones' media company including Infowars instead of allowing him to reorganize his business, as they seek to collect on $1.5 billion in lawsuit verdicts against him.
“There’s really no avenue out of this,” Jones said on his show Sunday. “I’m kind of in the bunker here. And don’t worry. I’ll come back. The enemy can’t help but do this attack.” Liquidation could mean that Jones, based in Austin, Texas, would have to sell most of what he owns, including his company and its assets, but could keep his home and other personal belongings that are exempt from bankruptcy liquidation. Proceeds would go to his creditors, including the Sandy Hook families. There is no agreement or court ruling yet, however, on how a liquidation would work in Jones’ cases.
The families of many, but not all, of the Sandy Hook victims sued Jones and won the two trials in Connecticut and Texas. Infowars' parent company, Free Speech Systems, which employs 44 people, had nearly $4 million in cash on hand at the end of April. The business made nearly $3.2 million in April, including from selling the dietary supplements, clothing and other items that Jones promotes on his show, while listing $1.9 million in expenses.
Education Education Latest News, Education Education Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: AP - 🏆 728. / 51 Read more »
Source: sdut - 🏆 5. / 95 Read more »
Source: ksatnews - 🏆 442. / 53 Read more »