TRUMP MEDIA SUES WASHINGTON POST FOR BILLIONS – HERE’S WHY
The Washington Post is facing a multibillion dollar lawsuit from Trump Media & Technology Group (TMTG) for a “egregious hit piece that falsely accused TMTG of securities fraud and other wrongdoing.”
The lawsuit claims that a former TMTG employee collaborated with the newspaper to publish an article that boosted “false criminal charges” and “exposed TMTG to public ridicule, contempt, and distrust” that “injured TMTG’s business and reputation.”
“WaPo’s latest defamation creates an existential threat for TMTG, causing enormous loss. TMTG brings this case to recover special damages to its business and good will, actual injury to its name and reputation, and punitive damages for WaPo’s gross misconduct.”
For this alleged defamation, TMTG is requesting $3,780,000,000.00 in damages, citing The Washington Post’s sizable online audience and Florida readers as well as the possible impact on the commercial reputation of the Sarasota-based technology company.
According to the lawsuit, the relevant item was one titled “Trust linked to porn-friendly bank could gain stake in Trump’s Truth Social,” and it was released on May 13, 2023.
Nine allegedly false statements were listed in the filing, ranging from accusations that Trump’s media company obtained a $8 million loan in exchange for stock without informing the SEC to the outrageous assertion that a Russian banker with ties to the pornographic sector acquired stock in Trump’s social media company, Truth Social.
“WaPo was not content with publication of the false Statements to its 2,500,000 subscribers and republication to its 20,000,000 Twitter followers. The primary author of the WaPo Article, Drew Harwell (‘Harwell’), republished the Article to his 48,000 Twitter followers, which included correspondents at CNN, New York Times, NBC News, The Atlantic, Huffington Post, the Daily Beast, Business Insider, and the Guardian.”
In order to provide a free-speech alternative to Big Tech platforms like Twitter and Facebook, Truth Social was originally introduced in February 2022.