Louis Bacon Wins Court Victory in Defamation Case

Bahama Journal to Publish Front-Page Apology, Concedes Stories ``Entirely False’’

NASSAU, Bahamas--()--The Bahama Journal and its online website have agreed to publish a front-page apology to Louis Bacon for making entirely false statements about him that were the result of a ``smear campaign.’’

The apology is the result of a settlement reached this week between the Bahama Journal and Mr. Bacon, founder of Moore Capital Management and Moore Charitable Foundation. In open court, a lawyer representing Jones Communications Limited, the publisher of the Bahama Journal, conceded that the newspaper had been used ``by person or persons who had an agenda against the plaintiff.’’

The Bahama Journal’s published apology states:

``We now appreciate that these claims are entirely false and should not have been published. We express our regret, and, apologise to Mr. Louis Bacon and his family for any embarrassment or distress which may have been caused to them.’’

A lawyer representing the Bahama Journal also made the following statement in open court:

``The Defendant accepts that the allegations concerning the Plaintiff were false and the Bahama Journal was used as a conduit for a smear-campaign against the Plaintiff.‘’

Statements read by attorneys for Louis Bacon and Jones Communications were included in a filing with the Supreme Court of the Bahamas, which approved the settlement.

The apology comes after London-based lawyers for Mr. Bacon sought a retraction and apology for the articles which were published in May. The articles included a series of outrageous falsehoods including the allegation that Mr. Bacon was involved in drug trafficking, public corruption and the cover-up of a murder.

Court documents show that Wendell Jones, the publisher of the Bahama Journal, agreed to print stories by a freelance journalist who had offered to be an unpaid columnist for the publication.

A copy of the Statement in Open Court is attached.

Contacts

Media Contact:
Burson-Marsteller
Gary Koops, 212-614-4756
Gary.Koops@bm.com
or
Legal Inquiries:
Schillings
Jenny Afia, 00 44 207 034 9000/ 07968 103 965
Jenny.afia@schillings.co.uk