Multimillionaire Brexit backer Arron Banks has lost his libel action against the Observer and Guardian journalist Carole Cadwalladr.
The ruling, which has been described as a “good day for journalism”, has been lauded by free speech campaigners.
Had Banks won the case, Cadwalladr faced being liable for his costs, estimated at between £750,000 and £1 million, together with any resultant damages.
Cadwalladr’s lawyer Gavin Millar QC had argued the case was an attempt to silence the journalist’s reporting on “matters of the highest public interest”, namely campaign finance, foreign money and the use of social media messaging and personal data in the context of the EU referendum.
