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Newsmax Agreed To Pay $40 Million To Settle Smartmatic’s Defamation Lawsuit
The amount was disclosed in a regulatory filing.
Newsmax paid $40 million to settle election systems company Smartmatic ‘s defamation lawsuit last year, according a recent regulatory filing made by the media outlet. “Newsmax Media reached a settlement agreement with Smartmatic on September 26, 2024, pursuant to which all claims will be released by Smartmatic for consideration, including a cash amount of $40 million payable over time and the issuance of a five year cash exercise warrant to purchase 2,000 shares of Series B preferred stock at an exercise price of $5,000 per share,” Newsmax said in the filing. Smartmatic sued Newsmax in November, 2021, claiming that as the network sought a larger audience, it published dozens of reports indicating that Smartmatic was in a “criminal conspiracy” to rig the results of the election, “and that its technology and software were used to switch votes from former President Trump to now President Biden.”
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