Trump-backed social media company Truth Social launched a defamation suit on Monday against 20 social media companies. Plaintiff Trump Media & Technology Group Corp sued The Guardian, Hollywood Reporter, the Miami Herald, Reuters, Rolling Stone, The Hill, Deadline, Benzinga, Marketwatch, Forbes, Axios, The Daily Beast, Gizmodo, Salon, The New York Daily News, Newsweek, MSNBC, Mediaite, The Daily Mail, and CNBC.
The suit alleges that there has been “an unprecedented and seemingly coordinated media campaign by no less than 20 major media outlets, to attack Trump Media & Technology Group (“TMTG”) and its social media platform, Truth Social, by falsely reporting that TMTG had lost $73 million.”
The suit claims that the number was “an utter fabrication,” and that each defendant, “in apparent coordination,” published that number within 24 hours of one another.
The outlets, the suit claims, all sourced an SEC filing, but that $73 million loss amount is not contained in the cited filing.
Truth Social alleges that this was “a coordinated effort” to damage the company’s reputation and hinder an anticipated merger. “All defendants ran nearly identical headlines that reported some variation of ‘Trump’s Truth Social’ having lost ‘$73 million,'” the suit contends.
The alleged defamation, the suit states, “deeply harmed” Truth Social as it had the effect of “eroding faith in the copmany’s operations and management,” and made it “more difficult” for the company to raise additional funds while the anticipated merger is pending with the SEC.
Rumble CEO Chris Pavlovski said “Truth Social just filed an unprecedented defamation lawsuit incorporating twenty media companies.
The tide is finally turning, corporate media and activists are going to feel the heat.”
Rumble has announced its plans to file a suit and “go thermonuclear.” This after Elon Musk’s X announced their intentions to do so, and made good on that promise on Monday. It was Media Matters’ publication of a hit piece against X, alleging that ads appeared on the platform alongside antisemitic content, that was the cataylst for the suit by X against Media Matters.