Silicon Valley billionaire, Peter Theil, has admitted that he provided litigation funding for Hulk Hogan’s lawsuit against Gawker Media. The suit ultimately resulted in a Pinellas County, Florida jury award of approximately $140 million in Hogan’s favor and against Gawker. Hogan’s use of litigation funding under these circumstances was perfectly legal. In many circumstances, the high cost of litigation prevents many parties from initiating expensive legal claims on the order of the Gawker case. However, litigation funding companies remove that consideration and provide litigants with the ability to retain counsel of their choice and allow their claims to proceed to court against a wealthy adversary. It would appear that, in Hogan’s case, there are 140 million reasons he would be happy he decided to use litigation funding in his suit against Gawker.
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