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Saturday, December 24, 2011

Scottie Pippen is not Bankrupt--and he is Suing the Morally Bankrupt Writers Who Libeled Him

You may have seen various unsourced reports suggesting that Scottie Pippen is bankrupt and/or that he lost about $120 million. While it is true that Pippen made some bad investments--one of which he at least partially recouped by winning a lawsuit earlier this year--it is assuredly not true that Pippen has ever filed for bankruptcy, a fact that is fairly easy to establish. Pippen is rightfully outraged that sloppy reporting has made him a sort of poster child for athletes squandering massive amounts of wealth and he is striking back with a $10 million lawsuit against 10 media outlets, including CBS. In the formal complaint, Pippen--through his lawyers--asserts that his net worth never dipped below "approximately $40 million in the last 10 years."

I don't know if Pippen and his lawyers can meet the legal standard of proof that he has been libeled but it is ridiculous and outrageous for any media outlet--let alone one with the resources of CBS--to report that someone is bankrupt if that is not true. I have long been frustrated by the proliferation of writing by people who lack the most basic writing skills and who are well compensated for hack work, so if the only way to clean up the journalism business is via lawsuits then I hope that Pippen's legal action will prove to be as trendsetting and successful as his versatile play from the point forward position was for six Chicago championship teams


posted by David Friedman @ 11:20 PM



At Sunday, December 25, 2011 2:00:00 AM, Anonymous Yogi said...

If TV and newspaper reporters had to actually check facts and report only the truth, then they would quickly be out of business - and their business is entertainment and propaganda, not news.

People who want the facts know that popular media outlets are not the place to get them.

Sadly, it is also a fact that very few people actually want to know the facts or can even tell the difference between false and true information.

At Monday, December 26, 2011 1:14:00 AM, Anonymous Anonymous said...

I wish him well but these cases are difficult to win because the plaintiff must show actual damages, which is not always easy, and actual malice, which is often impossible. Sometimes suits like this one represent an effort by the plaintiff to clear his name and draw attention to his side of the story, even if the suit itself is unlikely to succeed due to legal technicalities.

It must have been frustrating for Pippen to see himself labeled as another foolish athlete who couldn't manage his money. I'm glad that he is fighting back.


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