Trump Media Company Hits 20 Media Outlets with $1.5 Billion Lawsuit
Trump Media Company Files $1.5 Billion Lawsuit Against 20 Media Outlets
Former President Donald Trump’s media company has taken legal action against 20 media outlets, accusing them of conspiring to “attack” the company and undermine its business opportunities.
The lawsuit claims that these media outlets engaged in an unprecedented and coordinated campaign to spread false information about Trump Media & Technology Group and Truth Social, alleging that the companies had lost $73 million.
“This number was an utter fabrication,” the lawsuit states. “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 loss appears nowhere.”
These reports emerged during the merger process between TMTG and Digital World Acquisition Corporation, which had been announced over two years ago. The merger would enable TMTG to become publicly traded, allowing retail investors to directly invest in the company.
The lawsuit argues that the merger is crucial to TMTG’s business plan as it would provide the company with funds for investment and expansion at a lower cost than borrowing.
Following DWAC’s filing with the Securities and Exchange Commission, the mainstream media seized upon the opportunity to spread misinformation, according to the lawsuit.
“That same day, and continuing into the next, numerous media outlets, including the named Defendants, in apparent coordination, ran materially identical headlines and stories, each citing to the S-4 filing with the SEC, and falsely claiming that the S-4 showed that TMTG lost $73 million,” the lawsuit alleges.
The media outlets named in the lawsuit include Reuters, The Hollywood Reporter, The Miami Herald, The Hill, Deadline, Marketwatch, Benzinga, Forbes, Axios, Daily Beast, The Guardian, Salon, Gizmodo, CNBC, MSNBC, Newsweek, the New York Daily News, Mediaite, and the U.K.’s Daily Mail.
The lawsuit, filed in Florida’s 12th Circuit Court, accuses all the defendants of defamation and injurious falsehood. It seeks $1.5 billion in damages, along with court costs, and demands a jury trial.
Some of the media outlets named in the lawsuit have already updated or corrected their reports, while others have not responded to requests for comments.
A Note from Our Founder:
Silicon Valley and the Big Tech tyrants have done everything they can to put The Western Journal out of business. Our faithful members have kept us going.
If you’ve never chosen to become a member, let me be honest: We need your help today.
I also want to send you an autographed copy of “Counterpunch,” which will give you a plan to fight back for our beloved country.
Join right now – The Western Journal stands for truth in this difficult time.
Please stand with us by becoming a member today.
Floyd G. Brown
Founder of The Western Journal
The post Trump Media Company Hits 20 Media Outlets with $1.5 Billion Lawsuit appeared first on The Western Journal.
What impact does the lawsuit claim that false reporting has had on TMTG’s reputation and business prospects?
, published articles and segments accusing TMTG and its founder, Donald Trump, of causing a $73 million loss in the company,” the lawsuit states. “These false claims were made without any evidence and were intended to damage the reputation of TMTG and Mr. Trump.”
The lawsuit further alleges that these media outlets knowingly spread false information to manipulate the market and harm TMTG’s chances of successfully completing the merger. The lawsuit seeks damages of $1.5 billion for defamation, intentional interference with prospective economic advantage, and violations of federal securities laws.
Trump Media & Technology Group, which was launched by Donald Trump in October 2021, aims to create a social media platform called Truth Social that promotes free speech and rejects censorship. The platform, set to launch in early 2022, has received significant attention and support from conservative voices.
However, since its announcement, TMTG has faced criticism and backlash from various media outlets. The lawsuit accuses these media outlets of having biased agendas, working tirelessly to portray TMTG and Truth Social in a negative light.
According to the lawsuit, the false reporting has had a detrimental impact on TMTG’s reputation, potential partnerships, and investments. It claims that the media outlets acted with malice, knowingly spreading inaccurate information to harm TMTG’s business prospects.
While it is not uncommon for media outlets to express differing opinions or criticize businesses and public figures, the lawsuit argues that the actions of these 20 media outlets went beyond the realm of fair reporting and constituted a deliberate effort to undermine TMTG’s success.
The legal action taken by TMTG serves as a reminder of the power and influence of the media and the potential consequences of spreading false information. It raises questions about journalistic integrity and the responsibility of media outlets to provide accurate and unbiased reporting.
As the lawsuit progresses, it will undoubtedly spark further debates about the role of the media in shaping public opinion and the boundaries of press freedom. It remains to be seen how the court will rule on this case and what implications it may have for media organizations and the future of TMTG.
In a time where trust in the media is crucial, this lawsuit highlights the need for responsible and ethical journalism that prioritizes truth and accuracy over sensationalism and agenda-driven narratives.
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
*As an Amazon Associate I earn from qualifying purchases
