As if Hulk Hogan’s courtroom brawl with Gawker Media wasn’t already spectacle enough, this week brought news that PayPal billionaire and Sullivan & Cromwell alum Peter Thiel has been funding the litigation, possibly thanks to a personal vendetta against Gawker.
The funding revelations add a new dose of drama to Hogan’s extraordinary lawsuit, in which Gawker was hit with a $140 million jury verdict for posting video of the wrestler having sex with a friend’s wife. But there’s one group that’s not necessarily thrilled with the latest twist: the established litigation finance industry.
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