Business Insider has Chen's firsthand account of the raid here.
*Updated: New York Times gets a response from Gawker:
Gawker’s chief operating officer, Gaby Darbyshire, said it expected the immediate return of the computers and servers.
“Under both state and federal law, a search warrant may not be validly issued to confiscate the property of a journalist,” she wrote in a letter to San Mateo County authorities on Saturday. “Jason is a journalist who works full time for our company,” she continued, adding that he works from home, his “de facto newsroom.”