Former President Donald Trump has filed a lawsuit against multiple news organizations, including MSNBC, Reuters, and 18 others, alleging a coordinated effort to misreport the financial losses of his social media platform, Truth Social. Trump claims that the reports of a $73 million loss in 2023 were false and part of a larger media conspiracy involving at least 20 major outlets.
The lawsuit, filed in Sarasota County, Florida on behalf of Trump Media & Technology Group, accuses the news organizations of fabricating the $73 million figure. It alleges that each defendant reported the same false number within 24 hours of one another, citing a public Securities and Exchange Commission (SEC) filing that did not contain any mention of the supposed losses.
The lawsuit further asserts that this alleged conspiracy was intended to harm the reputation of Trump Media & Technology Group and sabotage its merger with Digital World Acquisition Corp, which is seeking to merge with Truth Social. The similarity of the headlines and the fact that the articles were updated and corrected, but not removed, are presented as evidence of the coordinated effort.
Earlier this month, reports emerged claiming that Truth Social had incurred losses of $73 million. However, it was later revealed that the actual losses amounted to $31 million. The cause of the initial error remains unclear, although it was attributed to a securities filing by Digital World Acquisition Corp.
The named news organizations in the lawsuit include MSNBC, Reuters, Newsweek, CNBC, The Daily Beast, the Miami Herald, Mediatie, The Hill, The New York Daily News, the Daily Mail, Axios, The Hollywood Reporter, Salon, Deadline, and others.
Donald Trump remains deeply upset over the inaccurate reporting about Truth Social’s financial losses. Through this lawsuit, he aims to hold the media outlets accountable for what he believes to be a deliberate attempt to harm his company’s reputation and impede its merger plans.
The lawsuit is ongoing, and more developments are expected in the future.