The complaint alleges that these media organizations conducted a coordinated campaign to falsely report that Trump Media & Technology Group Corp. had lost $73 million. This figure is a complete fabrication and is not found in any public Securities and Exchange Commission filing by the company.

The complaint asserts that this was a deliberate effort to damage the reputation and financial standing of Trump Media & Technology Group, hinder its access to capital, and negatively impact its anticipated merger with Digital World Acquisition Corporation.

The $73 million loss figure does not appear anywhere in the DWAC S–4 filing, and the Defendants knew that it did not—or were at least reckless in their disregard for the truth—because each of them had access to the publicly-available S-4 that was the purported basis of their articles. Indeed, many defendants cited to and/or directly quoted from the filing,” according to the complaint.

“Another false statement made by 19 of the 20 Defendant (all except for Axios), was to claim that the SEC filing showed a loss of $50 million in 2022. No such loss is shown in the DWAC S-4.”

“As a result of these widespread lies, TMTG has suffered actual damages. Committed and potential investors have reacted negatively to the false news of TMTG supposedly losing $73 million, and TMTG’s ability to raise additional capital has been impaired.”

“Defendants are ostensibly in the business of publishing factual information. However, their business models revolve around generating clicks, and driving views to their websites. In this case, Defendants used the occurrence of a news event—the filing of DWAC’s S-4 with the SEC, a significant milestone in TMTG’s proposed merger with DWAC—as a pretext to intentionally or recklessly report the fabricated $73 million loss figure and sensationalize the news with anti-Trump, click- bait articles.”

“The incredible circumstances of all 20 Defendants publishing nearly identical articles, within hours of one another, using the same fabricated figures that appear nowhere in the S-4 filing upon which they ostensibly rely, would seem nearly miraculous were it a coincidence. Instead, this chorus of falsehood evinces a deliberate, malicious, and coordinated attack on TMTG and Truth Social,” the company said in the complaint.

Sauce