U.S. President Donald Trump has refiled a shorter 40-page version of his $15 billion defamation lawsuit against The New York Times (NYT).
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The lawsuit, which was previously thrown out by a judge for being excessively long and verbose, also names several individual reporters at the newspaper, as well as book publisher Penguin Random House. Trump claims in the lawsuit that the defendants made “numerous defamatory statements” regarding the president in at least two articles in The New York Times and a book published by Penguin Random House.
The newspaper and book publisher “wrongly defame and disparage” Trump’s reputation, according to the lawsuit that is seeking damages of $15 billion. The refiling of the lawsuit comes after U.S. District Judge Steven Merryday in Florida dismissed Trump’s previous defamation lawsuit in September within days of it being filed.
‘Florid Allegations’
Judge Merryday criticized the previous lawsuit for containing “repetitive” and “florid allegations” against The New York Times. In response to Trump refiling the lawsuit, the Times said through a spokesperson that “nothing has changed today. This is merely an attempt to stifle independent reporting and generate PR attention, but The New York Times will not be deterred by intimidation tactics.”
Trump has had a contentious relationship with The New York Times since his time as a property developer before he entered politics. While The Times is known as the newspaper of record, Trump has often referred to the publication as “fake news” and criticized its reporters for their coverage of him and his policies. NYT stock is up 10% this year.
Is NYT Stock a Buy?
The New York Times stock has a consensus Moderate Buy rating among seven Wall Street analysts. That rating is based on four Buy and three Hold recommendations issued in the last three months. The average NYT price target of $61 implies 8.27% upside from current levels.
