As with just about anything associated with former President Donald Trump, his Truth Social platform has been repeatedly savaged in countless mainstream media reports.
When a host of outlets published articles claiming that the social media platform lost tens of millions of dollars, however, the company decided to fight back. In a statement this week, Truth Social confirmed that it had filed a lawsuit against 20 media companies for perpetuating what it insists is incorrect and defamatory financial claims.
It looks like the MSM has been busy today with false reporting about Truth Social’s finances claiming Trump’s social media platform has lost 73 million dollars while only earning 7 million. Trump’s lawyers have now addressed these lies and have prepared a statement to hold the… pic.twitter.com/zbBfth2ZVX
— Don Keith (@RealDonKeith) November 15, 2023
According to a civil suit filed in Florida on Monday, Truth Social is seeking a $1.5 billion payout and a retraction of the reports published by outlets including Reuters, The Hill, Axios, MSNBC, Forbes, Rolling Stone and others.
“Today, Truth Social filed a defamation lawsuit that is likely unprecedented in history, incorporating twenty publications — and even more may be added,” the company confirmed. “All of them published the same false information about Truth Social and refused to fully retract their stories. To the Fake News outlets that think themselves above accountability: we’ll see you in court.”
As the lawsuit itself claims, the similarity between these “unprecedented” attacks appeared to be a “coordinated media campaign” to damage the brand and derail a tentative merger with another company.
The alleged amount of the company’s financial loss “was an utter fabrication,” the court document asserts, adding: “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 filing, in which the mystery $73 million appears nowhere.”
Furthermore, the suit accuses the defendants of ignoring or downplaying Truth Social’s own statements regarding its financial health.
“Instead, they deliberately or recklessly published false financial information to advance a preferred and coordinated narrative harmful to [Trump Media & Technology Group],” the suit concluded, referring to the company that owns Truth Social.
Although some of the articles referenced in the suit have since been updated to remove inaccurate details, Truth Social insists that it has not been enough and wants both a retraction and an apology along with the punitive damages.
“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 company stated.