Trump Sues Truth Social Company Co-Founders to Zero Them Out

Posted: Apr 02, 2024

- Donald Trump has sued co-founders of Trump Media & Technology Group Corp., claiming they set up the company improperly and shouldn't receive any stock. - Trump alleges that Andy Litinsky and Wes Moss violated an agreement about the setup and don't deserve their 8.6% stake in the company. - Trump Media shares have seen significant plunges after going public, with wild swings in trading. - Litinsky and Moss have also brought their own suit against Trump in Delaware Chancery Court over their promised stake. - Trump claims Litinsky and Moss failed to properly set up the governance structure and launch key platforms for the company. - Trump's net worth has soared with his Trump Media stake despite legal judgments against him, but he cannot sell the shares for six months. - Litinsky and Moss plan to seek an order to stop the Florida lawsuit while they litigate claims that Trump planned to target their stake. - The Florida lawsuit is Trump Media & Technology Group v. United Atlantic Ventures, Florida Circuit Court, 12th Judicial Circuit (Sarasota).





Stay ahead of the market with AI stock alerts & AI summaries of the latest earnings, stock ideas for free with Fluid Bot. Sign up now!