December 6, 2023
Trump Media sues 20 news outlets over allegedly false loss reports, alleging defamation

Trump Media & Technology Group, which operates Truth Social, on Monday announced a lawsuit against 20 media organizations over allegedly false reports, saying the company has lost millions.

The lawsuit, filed in Florida state court in Sarasota County, points to several recent news articles claiming the company lost $73 million, which the company described as “complete fabrications.” ” Said.

Outlets named in the lawsuit include Guardian News & Media, The Hollywood Reporter, The Miami Herald, Reuters, Rolling Stone, The Hill, Deadline Hollywood, Benzinga, MarketWatch, Forbes, Axios, The Daily Beast, Gizmodo, Salon, The New York Times, and The Guardian. York Daily News, Newsweek, MSNBC Cable, Mediaite, The Daily Mail and CNBC.

The lawsuit was made public after business hours, when comments could not be obtained from the defendant media companies.

“Each defendant, in apparent coordination, reported the same false numbers within approximately 24 hours of each other, each citing Public Securities and Exchange Commission (‘SEC’) filings in which the mystery of the $73 million loss lay. Does not appear,” the suit claims.

Last week, Trump Media & Technology Group filed an amended S-4 registration statement with the SEC to advance its long-delayed merger with Digital World Acquisition Corporation, a special purpose acquisition company, which would allow the firm to acquire stock. Will allow you to secure a listing on. Make an exchange and raise additional capital.

According to the lawsuit, numerous reports cited publicly available filings alleging that TMTG lost $73 million, although that figure is nowhere in the SEC document.

TMTG alleged that the outlets “intentionally or recklessly published inaccurate financial information to further a preferred and coordinated narrative detrimental to TMTG.” He further argued that the defendant organizations had actively worked to thwart the Digital World merger.

“TMTG intends to hold these reckless and malicious media outlets accountable for their false reporting and their seemingly coordinated effort to destroy TMTG and Truth Social,” the lawsuit claims, though the lawsuit does not claim a civil conspiracy. Is.

TMTG further said that it had informed the outlets about their error and sought to retract it, acknowledging that some outlets had issued corrections or updates to their existing articles, but “none had published any articles containing defamatory articles.” “did not retract, publicly apologize, or take any other steps to improve.” “The losses are continuing.”

For example, The Hollywood Reporter posted a correction at the bottom of the article as follows:

This story has been updated to more accurately reflect TMTG’s net loss as reported on its balance sheet. A preliminary read of the Nov. 13 securities filing, which was updated Nov. 14, showed Truth Social reported a $50 million loss in 2022, when that figure was actually listed as a profit.

Ben Whedon is an editor and reporter for Just the News. follow him x, Formerly Twitter.


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