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Newsmax Inc. (NYSE:NMAX) ("Newsmax" or the "Company") today announced that the Company has reached a settlement agreement with Dominion Voting Systems, concluding a defamation lawsuit that Dominion filed in Delaware Superior Court in 2021.
In a filing submitted Monday with the U.S. Securities and Exchange Commission, Newsmax disclosed that the parties have mutually agreed to resolve the litigation for a total payment of $67 million. The settlement amount will be paid out in installments over three fiscal years which the Company expects to fund through revenues.
Dominion Voting Systems originally filed its lawsuit against Newsmax in 2021, seeking $1.6 billion in damages. Dominion alleged that certain statements made in Newsmax's coverage of the 2020 presidential election were defamatory.
Posted In: NMAX
