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An injury to reputation that's caused when literally true factual statements create a false impression. While the elements of defamation by implication vary from state to state, in general, it requires proof that the speaker:
published true statements in a way that implied something defamatory, or
implied something defamatory by omitting facts, and
"'Defamation by implication' is premised not on direct statements but on false suggestions, impressions and implications arising from otherwise truthful statements." Armstrong v. Simon Shuster, Inc., 649 N.E.2d 825, 829-30 (N.Y. 1995).