SARASOTA, FLORIDA: Trump Media & Technology Group (TMTG), the operator of Donald Trump’s social media platform Truth Social, made headlines Monday (Nov. 20) by announcing a $1.5 billion lawsuit against 20 media organizations. The lawsuit alleges defamation and damaging falsehoods, stemming from what TMTG claims were false reports regarding substantial financial losses.
The lawsuit, filed in Florida state court in Sarasota County, targets a wide range of media outlets, including major players such as Guardian News and Media, The Hollywood Reporter, Reuters and CNBC, as well as various sectors specializing in finance, politics or left-wing websites.
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Lawsuit against TMTG alleges “coordinated” reporting
The crux of the lawsuit revolves around recent news reports suggesting that TMTG suffered colossal losses of $73 million, a figure vehemently denied by the company.
According to the lawsuit, the accused media outlets demonstrated “apparent coordination” with each other, reporting the same false number approximately 24 hours apart.
The reports reportedly cited a public Securities and Exchange Commission (SEC) filing, in which the alleged $73 million loss was conspicuously absent.
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“Each defendant, in apparent coordination, reported the exact same false number approximately 24 hours apart, each citing a public Securities and Exchange Commission (“SEC”) filing, in which the mysterious loss of $73 million dollars does not appear anywhere,” the court said. legal claims.
TMTG recently filed an amended S-4 registration statement with the SEC, seeking to advance its long-delayed merger with Digital World Acquisition Corporation.
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This merger is crucial for TMTG to go public and raise additional capital.
The lawsuit claims that the accused media outlets, through false reporting, actively sought to thwart this merger.
Former President and Republican presidential candidate Donald Trump delivers a speech during a Nevada Republican volunteer recruiting event at Fervent: A Calvary Chapel on July 8, 2023 in Las Vegas, Nevada (Getty Images)
“TMTG intends to hold these reckless and malicious media outlets accountable for their false reporting and for their seemingly coordinated efforts to destroy TMTG and Truth Social,” the suit claims, although it does not explicitly allege a civil conspiracy .
Although some media outlets published corrections or updates to their articles, the lawsuit points out that none removed the allegedly defamatory content or issued a public apology, which exacerbated the alleged damage.
For example, The Hollywood Reporter issued a correction that reads: “This story has been updated to more accurately reflect TMTG’s net losses as disclosed on its balance sheet. A first reading of the Nov. 13 securities filing , updated since November 14, reported that Truth Social posted a loss of $50 million in 2022, when in fact that figure was considered a profit.
The lawsuit alleges defamation and damaging falsehoods, seeking a jury trial and punitive damages of $1.5 billion. TMTG also demands silence requiring the removal of all articles relating to disputed losses and unspecified additional damages.
Social media support for the TMTG trial
Social media platforms sparked widespread reactions, with many users expressing support for Trump’s legal action.
“Now it’s a thermonuclear trial,” one posted on X.
“Things are getting spicy. This man will never give up!” another wrote.
“Let the floodgates open, backdoor censorship needs to stop,” someone else added.
“Good, these people must be held responsible!!” another intervened.
It is now a thermonuclear trial.
– Planet of Memes (@PlanetOfMemes) November 21, 2023
Things are getting spicy.
This man will never give up! pic.twitter.com/y7MvZugkEg
– A bad guy (@Dorf73256527) November 21, 2023
Let the floodgates open, backdoor censorship must stop
– Gene 1968 (@nelmagene2010) November 21, 2023
🚨🚨Good, these people need to be held accountable!!
— Tracy Smith (@browt1971) November 21, 2023
However, legal experts note that the lawsuit could face challenges under Florida’s anti-SLAPP laws, which protect individuals’ rights to free speech, including journalism rights. TMTG justifies filing a lawsuit in Florida based on the state in which it operates.
The move raises comparisons to the high-profile lawsuit against Gawker Media by Hulk Hogan, which ultimately led to Gawker’s demise in 2016, according to The Wrap.
This article contains remarks made on the Internet by individuals and organizations. cannot independently confirm them and does not endorse the claims or opinions made online.
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