Former President Donald Trump‘s digital venture, Trump Media and Technology Group (TMTG), is taking The Washington Post to court, claiming a whopping $3.78 billion in defamation damages.
The legal action comes in response to an article the news outlet published earlier this month, described by TMTG as a “severe hit piece.”
The contentious piece linked the company with allegations of securities fraud and other legal infringements.
In the legal documents submitted to a Sarasota County court in Florida this past Saturday, TMTG – proprietors of the social media platform Truth Social – alleges the disputed article was responsible for massive losses, posing a “grave threat” to the platform’s survival.
The claim put forward by TMTG paints a picture of The Washington Post as a relentless adversary, bent on an extended campaign against the company.
This characterization is particularly poignant, given that the newspaper’s motto stands as, “Democracy Dies in Darkness.”
Truth Social, launched by Trump last year, has been positioned as an alternative to mainstream social media platforms, catering to conservative voices who felt marginalized and unfairly treated due to their political beliefs.
The contentious article, appearing online under the headline, “Trust linked to porn-friendly bank could gain a stake in Trump’s Truth Social“, was published on May 13, 2023.
TMTG alleges that the piece falsely claims the company did not fully disclose key merger information to the Securities and Exchange Commission and shareholders.
TMTG further criticizes the provocative nature of the headline, accusing it of misleading readers into assuming the company was implicated in questionable business practices.
Details in the disputed article outline a narrative involving a Caribbean bank, said to have extended an $8 million loan to TMTG.
The piece asserted that “[TMTG] borrowed money from a bank best known for servicing the adult entertainment industry, pledged a stake in the company for the loan, and kept the SEC in the dark.”
TMTG argues that the publication propagated nine inaccurate assertions, spreading this misinformation to its substantial audience—2.5 million subscribers and 20 million Twitter followers.
The legal document suggests that The Washington Post not only spread false information but went further by employing individuals inside and outside the organization to ensure the defamatory content reached a wider audience, thereby exacerbating the harm inflicted on TMTG.
