Finance

Truth Social’s Parent Company Sues 20 Media Outlets

The father or mother firm of former President Donald Trump’s Truth Social platform is suing 20 media shops, which it claims reported false details about the corporate’s funds.

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 stated. “To the Fake News outlets that think themselves above accountability: we’ll  see you in court.”

Media corporations named within the go well with embody: 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 misplaced $73 million.,” the lawsuit claims.

”This quantity was an utter fabrication. Each defendant, in obvious coordination, reported the very same false quantity inside roughly 24 hours of each other, every citing to a public Securities and Exchange Commission (“SEC”) submitting, during which the thriller $73 million seems 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 assertion with the SEC, which marked a serious milestone towards the completion of the deliberate merger between DWAC and TMTG. TMTG publicly said that the S-4 was excellent news for TMTG.

“Because this submitting includes TMTG and President Trump’s Truth Social, nevertheless, these defendants ignored or downplayed TMTG’s public statements concerning a constructive growth. Instead, they intentionally or recklessly revealed false monetary info to advance a most well-liked and coordinated narrative dangerous to TMTG.

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

The go well with claims that TMTG had contacted the media shops and notified them of the “error” and informed them their reviews a few supposed $73 million loss was false and defamatory. The firm 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 go well with claims.

Jeffrey Rodack | editorial.rodack@newsmax.com

Jeffrey Rodack, who has almost a half century in information as a senior editor and metropolis editor for nationwide and native publications, has coated politics for Newsmax for almost seven years.


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