Posted on 01/07/2020 1:37:21 PM PST by Red Badger
I believe court case winnings are free from taxes.
Awards are compensation for wrongs. its not income. Its for damages.
Well, settlements are never for the amount of the lawsuit; that’s what settling means. However, you can bet it’s a nice amount of money.
Well the lawyers take is taxable. Its income to them.
“It was big bucks, which is why they paid for a non disclosure clause.”
1). It should be public record. The legal system is owned by the pubic. ATT/CNN are corporate entities licensed by the state. The settlement amount is of interest to stockholders of the company. What is the public interest in keeping the settlement secret? None.
2). Even though the amount of the settlement is not disclosed, no doubt CNN and its attorneys have communicated the amounts to the other media outlets being sued. We may now see a string of settlements now that other media corporations know what they have to cough up. If CNN and its attorneys are sharing the settlement amount with other corporations there is certainly no reason to keep the information from the public. In fact, one might argue any sharing of information by CNN with its media competitors is a violation of anti-trust law. However, since the Reagan years enforcement of anti-trust laws has not been in fashion, much to the detriment of free markets and the American people. Today oligopolies and cartels control most markets in the USA.
3). Unfortunately Sandeman’s attorneys will receive 33-40% of the settlement. It is unfortunate we don’t have a “loser pays” tort system in the USA.
4). This should be a wake up call to ATT, owner of CNN, and it’s stockholders. If the free market system was working, many heads would be rolling at CNN and the company would be reevaluating its business model and practices.
Instead CNN CEO Zucker continues to move the network farther left and watch the audience shrink while the big names on the network receive salaries and bonuses many multiples of the average American who sweats everyday being outsources so his company can save 10 cents an hour on labor. Fox News is moving left, due to the whims of the Murdoch sons, and the moderate to conservative audience is being abandoned.
The left wing audience is well served by CNN, the “transitioning” Fox News, MSNBC, Bloomberg, and the mainstream networks. ATT’s CEO should be asking Zucker why he doesn’t shift to the middle, capture the “fair and balanced” position, and reap the larger audience. After all, as officers of the corporation both the ATT CEO and Zucker have a legal and fiduciary obligation to maximize stockholder wealth. For a media company that means increase audience size.
Alternatively, with CNN struggling there seems to be a huge opportunity for a wealth conservative to buy CNN from ATT and create a real conservative network. Perhaps Rush Limbaugh, Shaun Hannity and a few others could pool resources and buy the network. That would be a game changer. I’d happily invest in that venture.
I agree, although you can bet the dollar amount is much higher than that. Probably at least 30 million dollars.
“You got it. Baby, you got it.”
A bad settlement is better than a good lawsuit
The only place I won’t wear mine is in a restaurant where I can’t see the food being made.
The thugs at CNN lost... that’s good enough for me.
“Their lawyers thought they would lose if they went to trial. Its a big win for the kid.”
Yep! And another precedent for our President.
Sue sue sue sue sue the fake jews people. The persons, the perps.
You’re right, this is quite big. The media NEVER admit they are wrong but CNN quickly settled after losing their last appeal. God bless these kids for standing up to the thugs and bullies.
I hope he shows up to school tomorrow in a brand-new Mustang.
He should have demanded they report their apology every hour for a week.
I understand that it’s an apples-vs-oranges thing, but I hope OANN wins something in its case against Maddow. OANN is media and not a private citizen, but they “literally” need to win enough to make MSNBC and Maddow hurt to some degree.
How quickly we forget about the Gibson's Bakery suit against Oberlin College where the jury awarded treble damage.
While the details may not be the same, you can bet that CNN lawyers study that case and jury very, very carefully, especially since CNN tried to have the suit dismissed. The climate has changed since DJT became president.
Could be CNN lawyers saw the possibility of a $500,000,000 and up jury award, as did Sandman's pit bull lawyers.
In fact the non-disclosure agreement strongly indicates indicates a bigger payout than asked. Only big time scumbag losers want to hide the facts.
Next up: the Nunes defamation suit against CNN.
Works for me! Nice to know that this young man is only getting started. He has more suits in the pipeline.
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