How does South Park get away with trashing identifiable people? Are they sued often?
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Parody is protected under US law.
People can (and do) sue, but they lose every time because it's easy for their well resourced corporate legal team to prove the show is (obviously) parody and thus, protected free speech.
Also public figures have to prove "actual malice" in a defamation or libel case. Actual malice is an incredibly hard thing to prove.
I imagine if it were easier, there would be like another couple hundred of thousand lawsuits against Trump lol
And by Trump, too. He'd definitely try and cash in if it were possible.