Donald Trump has launched a legal onslaught against 20 major media outlets, claiming a coordinated effort to spread false information about the financial performance of his social media platform, Truth Social.
In a lawsuit seeking a whopping $1.5 billion in damages, Trump alleges a deliberate campaign by media entities to tarnish the reputation of Trump Media & Technology Group. The legal battle centers on a reported $73 million financial setback attributed to Truth Social, with Trump arguing that this figure was a complete fabrication disseminated by the media outlets in a remarkably short timeframe, suggesting possible coordination.
The lawsuit suggests that this concerted effort not only damaged the image of Trump’s media group but also aimed to undermine its merger with Digital World Acquisition Corp. It scrutinizes journalism itself, pointing out uniformity in headlines across different outlets and emphasizing the absence of retractions and public apologies despite some articles being corrected.
Trump’s legal team asserts that each defendant reported the same false number, $73 million, within approximately 24 hours, citing a public Securities and Exchange Commission (SEC) filing. The lawsuit claims this orchestrated dissemination of misinformation constitutes a conspiracy aimed at damaging Truth Social and impeding its corporate dealings.
On November 14, 2023, Trump Media & Technology Group demanded retractions and apologies from the accused media outlets. While some issued corrections, the lawsuit claims none fully retracted defamatory articles or took adequate steps to address ongoing reputational damage. CNBC corrected its story, acknowledging errors and posting an ‘Editor’s Note,’ specifying Trump Media and Technology Group’s corrected financial figures.
The legal battle intensifies scrutiny on media accuracy and potential legal consequences for alleged misinformation campaigns, thrusting the financial narrative of Truth Social into the spotlight.
