(MENAFN- GlobeNewsWire - Nasdaq) NEW YORK, Oct. 08, 2025 (GLOBE NEWSWIRE) -- Newsweek states the current, constant litigation coming from IBT and its affiliates against Newsweek, its owner Dev Pragad, and its officers is baseless, frivolous and otherwise without any merit whatsoever-and the courts have already decided all of these issues in favor of Newsweek. In 2022, IBT brought a suit challenging the ownership of Newsweek (along with a number of other claims). Those suits were summarily dismissed and the dismissal issued by the NY Supreme Court, was upheld on appeal, validating the purchase agreement that formalized the sale of Newsweek and that should have been the end of this.

Regrettably, Newsweek believes the cases appear to be tantamount to a legal tantrum by IBT, its associates and the World Olivet Assembly (a religious sect whose ties to IBT have been the subject of significant media coverage), which has now brought seven different lawsuits against Newsweek in the wake of the NY Supreme Court's decision rejecting IBT's challenge to Newsweek's ownership. Newsweek believes the various courts across the country are being improperly used and abused as part of an ongoing campaign of harassment and looks forward to the day when all of these meritless matters are resolved. In the meanwhile, Dev Pragad and Newsweek intends to vigorously defend its rights and aggressively pursue all available legal remedies.

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