Market Data 
The Gateway Pundit, the notorious far-right blog and prolific publisher of conspiracy theories, said Wednesday that it had filed for bankruptcy protection as it grapples with litigation related to its coverage of the 2020 election.
The move comes as the staunchly pro-Donald Trump website, which promoted the false notion that the 2020 election was stolen by President Joe Biden and his allies, faces multiple lawsuits over its bogus claims.
One of the lawsuits, filed by two former Georgia election workers, Ruby Freeman and Wandrea “Shaye” Moss, accuses The Gateway Pundit of publishing stories that falsely accused them of election fraud, which the pair said prompted a wave of harassment and threats of violence. The judge has rejected several attempts to throw out the case, which is currently in the discovery phase ahead of a potential trial.
Another lawsuit, filed by a former Dominion Voting Systems executive, accuses the outlet of defamation. The Gateway Pundit denies wrongdoing in both cases.
Over the years, The Gateway Pundit has become infamous for its publishing of hyper-partisan blog posts, many of which advance dangerous lies and conspiracy theories. Founder Jim Hoft, a supporter of Trump and MAGA loyalist, has used the website to promote the Republican frontrunner, while disparaging his opponents.
In a Wednesday statement, Hoft said the outlet had filed for Chapter 11 bankruptcy protection “as a result of the progressive liberal lawfare attacks” and was “not an admission of fault or culpability.” He described the move as a “common tool for reorganization and to consolidate litigation when attacks are coming from all sides.”
“It allows [The Gateway Pundit] to consolidate this lawfare in one court for ultimate resolution,” Hoft said.
Hoft indicated that the website would continue publishing as the litigation plays out in court, proclaiming the outlet “will not be deterred.”
In a filing in federal bankruptcy court, the outlet’s parent company said it currently has between $500,000 and $1 million in assets — putting it on perilous footing if it were to face a large damages award in a defamation trial.
The Gateway Pundit is one of several right-wing media outlets grappling with the fallout stemming from its promotion of 2020 election lies. Fox News paid a record $787 million to settle a monster defamation lawsuit brought by Dominion Voting Systems, an election technology company. And the right-wing network still faces a similar lawsuit from Smartmatic, another election company.
Meanwhile, the far-right channel One America News recently settled a lawsuit with Smartmatic. And the right-wing cable outlet Newsmax faces lawsuits from both Smartmatic and Dominion.
