The City and County of San Francisco have initiated legal proceedings against Trump Media & Technology Group, the parent organization behind the Truth Social platform. The lawsuit, filed in California state court on Tuesday, accuses the company of orchestrating a “corrupt business scheme” by selling early access to posts made by President Donald Trump.
Legal filings allege that the Truth API feed violates California’s Unfair Competition Law as well as federal statutes prohibiting insider trading and ethical breaches. The suit contends that granting select users advance knowledge of the president’s social media activity provides an unfair market advantage.
The litigation comes amid high-profile claims from White House spokesperson Davis Ingle, who recently described Truth Social as the “most powerful and popular social media platform in the world.” However, independent metrics and audience data do not support the assertion that the platform holds the top position in terms of popularity.
I hope this holds them accountable. The platform’s popularity claims are wildly exaggerated by the White House anyway.
Calling it insider trading is a bold legal angle. Usually, that applies to corporate earnings, not presidential tweets.