Hulk Hogan Wrestles Gawker With Third-Party Litigation Financing | Practical Law
The name Hulk Hogan used to be synonymous with wrestling in the ring. But now, the Hulk, a/k/a Terry Bollea, may be more famous for pinning down online media giant Gawker Media LLC (Gawker) in the courtroom with the help of third-party litigation financing from PayPal co-founder and Silicon Valley billionaire Peter Thiel. A Florida state court jury awarded Bollea over $140 million in March as a result of Gawker publicizing on its website a sex tape involving the former professional wrestler. Gawker has appealed the ruling, and in an apparent effort to avoid paying Bollea, also has filed for bankruptcy. Although Bollea's most recent win occurred in state court, his legal battles against Gawker began in federal court in 2012, and have an extensive and interesting procedural history.