MSP Recovery Law Firm Files Defamation Lawsuit on Behalf of MSP Recovery Founder and CEO, John H. Ruiz Against Miami Herald, McClatchy Company and Reporters, Jay Weaver and Ben Weider for False, Misleading, and Defamatory Reporting That Resulted in…

/EIN News/ -- MIAMI, April 17, 2025 (GLOBE NEWSWIRE) -- MSP Recovery Law Firm files a defamation lawsuit against the Miami Herald Media Company, McClatchy Company, and reporters Jay Weaver and Ben Weider for the reckless publication of false, misleading, and defamatory statements that have severely harmed the reputation of MSP Recovery as well as its CEO and majority shareholder, John H. Ruiz, resulting in more than $5 billion dollars in losses.

The complaint, filed in the Circuit Court of the Eleventh Judicial Circuit in Miami-Dade County, Florida alleges Defendants engaged in a deliberate campaign to defame Mr. Ruiz and MSP Recovery by distorting facts, publishing manipulated narratives, and intentionally casting them in a false light. The reporting falsely asserted that Mr. Ruiz and MSP Recovery were “targets” of federal criminal and civil investigations—claims that were made without substantiating evidence and presented as fact to mislead the public. As a result, Mr. Ruiz and the company suffered substantial reputational damage, a loss of investor confidence, and disruption to key business relationships.

The complaint further contends that the Miami Herald, in pursuit of sensational headlines, abandoned journalistic objectivity and fairness. It accuses the publication of targeting Mr. Ruiz, a prominent Cuban-American entrepreneur and University of Miami supporter, as part of a broader agenda aimed at discrediting successful figures in the Cuban-American community, a position that has been well documented historically. As the son of Cuban immigrants, whose own father lost his parents at a young age and was homeless as a teenager, Ruiz, became the first in the family to accomplish higher education and built all his businesses from the ground up.

Mr. Ruiz was also singled out in part because of his high-profile involvement in Name, Image, and Likeness (NIL) deals and the media attention surrounding them. As a prominent UM supporter, the Plaintiff, Mr. Ruiz, became an attractive target for exploitation and defamation by a publication spearheaded by Defendants seeking to capitalize on the NIL hype and Ruiz’s public prominence. Furthermore, the Plaintiff states that the Miami Herald’s actions were not only aimed at smearing Mr. Ruiz but also at slandering MSP Recovery and the University of Miami itself, by undermining its athletic program and casting aspersions on its integrity.

The complaint also delineates how MSP Recovery’s business operations had been vetted by the nation’s most reputable law and accounting firms, as well as the State of Florida, and surpassed due diligence by world-renowned investment firms. Today, Ruiz maintains positive business relationships with all of MSP’s major investors, many of whom continue to support and positively affirm Ruiz and his leadership as the CEO of MSP Recovery.

Unlike other media outlets, such as the New York Post, who initially repeated the Miami Herald’s false claims, but issued retractions upon being presented with factual information by Ruiz and MSP Recovery, the Miami Herald refused to correct their factual errors and blatant misrepresentations, and instead doubled down and “stood by” its false reporting.

Consequences of the False Reporting
The lawsuit highlights the substantial damage caused by the defamatory publication, including:

• Investor Harm: Shareholders suffered financial losses as the false claims caused market instability and eroded confidence in the company, affecting Ruiz substantially, causing him to lose billions of dollars as a direct result of false stories, including but not limited to Cano Health, which has since gone into bankruptcy. Despite the Miami Herald being provided verified evidence of Cano’s baseless claims both in fact and in law, the Miami Herald failed to objectively state the facts or retract their reporting.
• Business Disruptions: Key business partners and clients, including Cano Health, cited the Miami Herald’s article in legal filings against MSP Recovery, further compounding the damage.
• Unfounded Legal Attacks: The false reports led to frivolous shareholder lawsuits and regulatory scrutiny, fueled by misinformation rather than fact. Mr. Ruiz and MSP Recovery had to spend millions defending themsleves and ultimately proving there was no basis for any of these claims.

The news articles in question reflect a reckless disregard for the truth and represent a disturbing pattern of irresponsible and agenda-driven reporting. This is not journalism—it is character assassination under the guise of public interest. As seen in other recent cases, including the defamation action brought by former President Trump against CNN, legal recourse is often the only effective remedy against such abuses of press power.

This lawsuit is not simply about defending the reputation of a well respected attorney, businessman, and entrepreneur —it is about standing up against the misuse of media platforms to spread misinformation and destroy reputations. The facts will clearly demonstrate that these Defendants acted with willful malice and with an intent to injure.

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                    Media@MSPRecoveryLawFirm.com