Trump Sued Over Truth Social Early Access Service

A lawsuit has been filed against Truth Social, the social media platform owned by former US President Donald Trump, over its plan to sell early access to Trump's market-moving posts. The suit claims that this practice constitutes insider trading and allows certain users to profit from non-public information. The lawsuit, filed by a group of investors, argues that by selling early access to Trump's posts, Truth Social is essentially providing a select group of users with material non-public information that could impact the stock market.

The complaint alleges that Trump's posts on Truth Social often have a significant impact on the stock market, with some posts causing stocks to rise or fall substantially. The lawsuit claims that by selling early access to these posts, Truth Social is creating an unfair advantage for certain users, allowing them to profit from the non-public information. The investors are seeking damages and an injunction to stop Truth Social from continuing this practice. The lawsuit also raises questions about the transparency and accountability of Truth Social's business practices.

The lawsuit is the latest development in the ongoing scrutiny of Truth Social's business practices and Trump's use of the platform to communicate with his followers. The case is expected to be closely watched by regulators and investors, who are seeking greater clarity on the rules governing social media platforms and their impact on the stock market.