Supreme Court Rejects Michael Cohen's Attempt To Revive Trump Lawsuit, Trump Media Shares Jump

The U.S. Supreme Court on Monday declined lawyer Michael Cohen’s bid to sue former President Donald Trump for alleged retaliation over a tell-all book. 

Trump Media & Technology Group Corp DJT shares are trading higher following the court ruling, last up more than 2%, according to Benzinga Pro.

Monday’s ruling reaffirms a lower court ruling that threw out the lawsuit based on a Supreme Court decision from 2022 that limited individuals’ ability to seek monetary damages from federal officials for constitutional violations, according to CBS News.

Cohen previously served as a legal advisor to Trump before becoming one of his most vocal opponents. He pleaded guilty to campaign finance violations and implicated Trump in a “hush money” scheme related to the 2016 election.

Cohen was sentenced to 36 months in prison in 2019, but was released to home confinement during the COVID-19 pandemic. He then shared on social media that he was working on a book detailing his experiences working with Trump. Cohen was reportedly sent back to prison after refusing to sign an agreement that prohibited him from talking to the media.

Cohen challenged his detainment and was once again released to home confinement after a judge found that he was sent back to prison in response to his attempt to “exercise his First Amendment rights to publish a book critical of the president and to discuss the book on social media.”

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In late 2021, Cohen filed a lawsuit against Trump and other federal officials for violations of certain Amendment rights. He made a Bivens claim at the time, which comes from a 1971 Supreme Court ruling in which the court found that federal officers can be sued for damages related to constitutional violations.

The Supreme Court shut down the Bivens claim in 2022. A federal judge then took the government’s side, dismissing Cohen’s case. That ruling was reportedly upheld by the U.S. Court of Appeals for the 2nd Circuit, prompting Cohen’s appeal to the Supreme Court, which was rejected on Monday.

“Michael Cohen has exhausted every avenue of his pathetic attempt to drag my client into court time and time again. As expected, the Supreme Court has correctly denied Michael Cohen’s petition and he must finally abandon his frivolous and desperate claims,” Trump’s lawyer Alina Habba reportedly said.

Price Action: Trump Media shares were up 2.16% at $30.22 at the time of publication, according to Benzinga Pro.

Photo: Shutterstock.