On Monday, Florida jury tacked on an additional $25.1 million punitive damages award for Hulk Hogan. This amounts to a total of $140.1 million awarded to the former pro wrestler after the jury found in his favor and awarded him $115 million this past Friday.
Gawker Media was ordered to pay $15 million while Nick Denton was assessed $10 million and Gawker’s former editor in chief, Albert J. (“AJ”) Daulerio $100,000. Punitive damages are awarded in addition to the actual damages at trial. They are meant to reform or deter the defendant and others from engaging in similar conduct. Not every state awards punitive damages.
According this report, the trial court judge told the jury that they could not award punitive damages that would bankrupt the defendants.
The net worth was determined by the court (via www.capitalnewyork.com):
The court determined that Gawker Media, a U.S. subsidiary of Cayman Islands-based Gawker Media Group Inc., had $48.7 million in gross revenues last year and a net worth of just $83 million. It determined Denton’s net worth to be $121 million — $117 million of which is tied up in stock in Gawker Media Group, Inc., which is valued at $276 million. The court determined that Daulerio’s net worth was negative $27,000, since he has no material assets but $27,000 in student loans.
Gawker, et al. indicated that it would appeal the jury findings and the damages awarded in hopes of either overturning the decision and/or reducing the monetary award.
Payout Perspective:
The moral of the story for AJ Daulerio is not to mess around at a deposition as it was his flippant answer to a question that seemed to have annoyed the jurors. Even though the court advised that it was not to bankrupt the parties in awarding punitive damages, it seems like the award would do so for Daulerio. One has to conclude that based on the monetary award, that Gawker will most certainly appeal.
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