Trump Media & Technology Group Corp., the parent company of the Truth Social platform, has instigated a lawsuit seeking $1.5 billion in damages from a number of prominent media organizations. These media outlets had incorrectly reported that the social media platform incurred a $73 million loss. The claim was targeted at 20 news publishers, including the Guardian and Reuters, accusing them of “a deliberate, malicious, and coordinated attack” against Truth Social. The suit was lodged in state court in Sarasota County, Florida, on Monday.
The outlets had initially published articles about Truth Social’s financial status, citing a regulatory filing by its merger partner Digital World Acquisition Corporation, an SPAC. They later issued corrections, such as this one from Reuters, which acceded to reaching the aforementioned figure via an incorrect calculation of a $50.5 million profit for 2022 as a loss.
The legal team for TMTG have argued that the fast transmission of the incorrect $73 million figure across multiple news outlets within hours suggests a coordinated campaign.
Launched last year, Truth Social has become the social network of preference for former President Donald Trump since he was banned from Twitter and suspended from Meta Platforms Inc.’s Facebook and Instagram after the events at Capitol on January 6, 2021. While Trump’s access to those platforms has been reinstated, he continues to primarily post on Truth Social.
Both representatives of the Guardian and Reuters have not promptly responded to requests for comment.
Find more details of the lawsuit here. The case has been filed as Trump Media & Technology Group Corp. v. Guardian News and Media LLC, in the Circuit Court of Twelfth Judicial Circuit, Sarasota County, Florida.
For more information, read the original report here.