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Truth Social is suing media outlets for misreporting its financial losses.
The error stemmed from a Reuters report that erroneously estimated the Trump-backed social media company as having a net loss of $73 million rather than $31.5 million, apparently misinterpreting a nebulous profit declaration. (The Verge initially reported the wrong numbers in a link to Reuters’ reporting, too. We’re not a party to this suit.)
The lawsuit will face the high standard of US defamation law. And while Truth Social’s operator frames the reports as a “coordinated” attack on Truth Social... I’d guess most other outlets (totaling around 20, including Axios, Rolling Stone, MarketWatch, and The Hill) simply trusted the venerable wire service’s analysis.
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