Following filing of multiple defamation suits, InfoWars has filed for voluntary Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas.
Chapter 11 bankruptcy procedures put a hold on all civil litigation matters and allow companies to prepare turnaround plans while remaining operational.
Alex Jones, founder of InfoWars, was found liable for damages in a trio of lawsuits last year filed after he falsely claimed that the 2012 Sandy Hook school massacre was a hoax.
According to Jones, in the 2012 Sandy Hook school shooting, in which 20 children and six school employees died at the school in Newtown, Connecticut, was fabricated by gun-control advocates and mainstream media.
In late March, families of Sandy Hook victims rejected Jones’ offer to settle their defamation lawsuit and reopened the case. Jones had offered to pay $120,000 to each of the 13 plaintiffs to settle the case.
Each of the plaintiffs turned down the settlement offer in court documents, saying, “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.”
According to court filings, InfoWars has listed its estimated assets in the range of $0-$50,000 and estimated liabilities in the range of $1 million to $10 million.