Parent Company of Truth Social Files Lawsuit Against 20 Media Outlets

The parent company of former President Donald Trump’s Truth Social platform is suing 20 media outlets, which it claims reported false information about the company’s finances.

The civil suit, which seeks $1.5 billion, was filed in Sarasota County, Florida Circuit Court on Monday.

“Today, Truth Social filed a defamation lawsuit that is likely unprecedented in history, incorporating twenty publications – and even more may be added. All of them published the same false information about Truth Social and refused to fully retract their stories,”  a statement posted by the media platform said. “To the Fake News outlets that think themselves above accountability: we’ll  see you in court.”

Media companies named in the suit include: Reuters, Rolling Stone, The Hill, Forbes Media, Axios Media, New York Daily News, MSNBC and the Daily Mail.

“This case is about an unprecedented and seemingly coordinated media campaign, by no less than 20 major media outlets, to attack Trump Media & Technology Group (“TMTG”) and its social media platform, Truth Social, by falsely reporting that TMTG had lost $73 million.,” the lawsuit claims.

”This number was an utter fabrication. Each defendant, in apparent coordination, reported the exact same false number within approximately 24 hours of one another, each citing to a public Securities and Exchange Commission (“SEC”) filing, in which the mystery $73 million appears nowhere.

“This was a coordinated effort to damage TMTG’s reputation, degrade the firm’s financial standing, freeze its access to capital, and torpedo the anticipated merger between Digital World Acquisition Corporation (“DWAC”) and TMTG.

“On November 13, 2023, DWAC submitted an amended S-4 registration statement with the SEC, which marked a major milestone toward the completion of the planned merger between DWAC and TMTG. TMTG publicly stated that the S-4 was good news for TMTG.

“Because this filing involves TMTG and President Trump’s Truth Social, however, these defendants ignored or downplayed TMTG’s public statements regarding a positive development. Instead, they deliberately or recklessly published false financial information to advance a preferred and coordinated narrative harmful to TMTG.

“All defendants ran nearly identical headlines that reported some variation of ‘Trump’s Truth Social’ having lost “$73 million.”

The suit claims that TMTG had contacted the media outlets and notified them of the “error” and told them their reports about a supposed $73 million loss was false and defamatory. The company demanded a retraction and an apology.

“To date, while some defendants have issued little-noticed ‘corrections’ or ‘updates,’ none have retracted the defamatory articles, publicly apologized, or taken any other steps to ameliorate the continuing damage,” the suit claims.