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Nicklaus Companies Files for Bankruptcy After $50 Million Jack Nicklaus Verdict

Nicklaus Companies has filed for Chapter 11 protection in Delaware after a Florida jury awarded Jack Nicklaus $50 million in his defamation suit against the firm. Court filings list $10–$50 million in assets and $500 million–$1 billion in liabilities. CEO Phil Cotton said the move aims to protect employees and clients while the company contests the verdict on appeal.