DailyFinance Toolbar

Donald Trump is shot down in defamation suit

Posted 3:15 PM 07/16/09 ,
Print Text Size A A A
When veteran New York Times editor Timothy L. O'Brien had the nerve to write a book, TrumpNation, arguing, based on meticulous research, that Donald Trump's net worth was a lot lower than he claims it is, the Donald threw a predictable hissy fit.

Being the litigious creep that he is, Trump sued O'Brien for defamation, but that lawsuit was tossed out by Camden County superior court judge Michele Fox yesterday. In a statement, the author said, "I am deeply gratified that the court's decision has vindicated the reporting in TrumpNation." In a separate statement, publisher Hachette said that "We are gratified that the court has granted summary judgment dismissing Mr. Trump's meritless libel lawsuit."


As for Mr. Turmp, he's as defiant as ever, and says he'll appeal the decision. "It tells you how unfair the libel laws are," he told [subscription] The Wall Street Journal. "We proved our case."

That raises an interesting question: If the problem is that the libel laws are unfair, why are you appealing? Will a higher court change the laws?

This case has been fun to watch for a number of reasons -- partly because it's coincided with a number of lawsuits against Mr. Trump and the bankruptcy of Trump Entertainment Resorts. The best part though, by far, came when Trump explained during a deposition that his net worth fluctuates based on his feelings and that he included the value of his "brand" in calculating his net worth.

Bad new for Mr. Trump: that brand appears to be in decline. Trump's latest insipid volume -- Think Like a Champion: An Informal Education In Business and Life -- landed with a plink and currently sports an Amazon sales ranking of 24,406, which doesn't exactly suggest tremendous brand value.
Zac Bissonnette

Zac Bissonnette

View all Articles »
Financial Writer

Zac Bissonnette is a reporter with DailyFinance, and a regular contributor to BloggingStocks, WalletPop and The Daily Beast. His areas of interest include corporate governance, shareholder activism, executive malfeasance, college, and real estate. He is a sophomore at the University of Massachusetts, and his first book will be published by Portfolio in the fall of 2010.

Read More
SUBSCRIBE TO:
RSS
COMMENTS ( 0 )
GOT SOMETHING TO SAY?
YOU'LL BE ASKED TO REGISTER OR SIGN IN BEFORE POSTING A COMMENT.
Make a Comment
Comment
 
Follow Us
Follow Our Writers
Pallavi Gogoi Pallavi Gogoi Financial Writer
Peter Cohan Peter Cohan Financial Columnist
Sarah Gilbert Sarah Gilbert Features Writer
Gene Marcial Gene Marcial Financial Columnist
Jeff Bercovici Jeff Bercovici Media Columnist
James Altucher James Altucher Financial Columnist
Mercedes M. Cardona Mercedes M. Cardona Retail Reporter
Nikhil Hutheesing Nikhil Hutheesing Assistant Managing Editor
Latif Lewis Latif Lewis Business News Editor
More Writers

Headlines From DailyFinance Partners

CNN Money
CNBC
Smart Money
Fox Business
Engadget
BloggingStocks
 WalletPop
AOL Small Business
Luxist
Housing Watch
AOL News
Business NewsInvesting and Real EstatePersonal Finance at WalletPopSmall Business

Terms of Service | Privacy Policy | Trademarks | HELP

© 2010 AOL Inc. All Rights Reserved