TLDR
- Trump sues NYT for $15B, citing false claims tied to his 2024 campaign.
- NYT stock rises despite Trump’s $15B defamation suit refiling.
- Trump alleges NYT acted with malice in campaign-related coverage.
- Reporters face legal heat over book, articles on Trump’s finances.
- Judge allows refiling after dismissing Trump’s original 85-page suit.
The New York Times Company (NYSE: NYT) ended October 17 with its stock rising 0.97%, closing at $56.19.
The New York Times Company, NYT
This gain came despite the refiling of a $15 billion defamation lawsuit by Donald Trump. The legal action targets The Times and three of its journalists over claims tied to his 2024 campaign coverage.
Trump filed the new complaint in the U.S. District Court for the Middle District of Florida. He accuses reporters Susanne Craig, Russ Buettner, and Peter Baker of publishing false and damaging content. The complaint focuses on two articles and one book titled Lucky Loser, published by Penguin Random House.
The lawsuit seeks compensatory damages not less than $15 billion and includes a request for a jury trial. Trump also demands retractions of the alleged defamatory material and unspecified punitive damages. His legal team claims the publication knowingly used biased sources and ignored correction requests.
Original Suit Dismissed, Judge Allowed New Filing
A federal judge previously dismissed Trump’s initial lawsuit, calling it overly long and filled with excessive praise of his persona. The original complaint ran 85 pages, far exceeding the court’s preference for concise legal filings. The judge granted Trump’s legal team 28 days to amend and refile within a 40-page limit.
Trump’s attorneys submitted the revised filing within the required timeframe and under the court’s formatting rules. They argue that The Times not only refused retraction but intensified its reporting instead. They allege the company acted with malice and intended to harm Trump’s public image.
The New York Times responded to the refiled lawsuit with a consistent stance. The company reiterated that the case lacks merit and signals an attempt to silence independent journalism. Editors and legal counsel at The Times maintain confidence in their coverage and legal position.
Reporters Targeted Over Book and Articles
Craig and Buettner authored the contested book that examines Trump’s financial history and business legacy. The lawsuit claims the book creates a false narrative that damages Trump’s reputation. Peter Baker, another named reporter, is cited for additional reporting that Trump’s team labels defamatory.
Trump’s legal team claims the content was designed to influence public perception and disrupt his 2024 campaign efforts. They assert that the defendants acted recklessly by using discredited sources and publishing misleading material. The complaint frames this as a coordinated media effort against him.
The reporters, contacted after the filing, have not provided new public responses. They previously contributed to NBC News and MSNBC and maintain high profiles in political reporting. The case now proceeds toward preliminary legal review, with no hearing date confirmed.
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