SAN FRANCISCO (AP) — Donald Trump is suing two co-founders of Trump Media & Technology Group, the newly public parent company of his Truth Social platform, arguing that they should forfeit their stock in the company because they set it up improperly.
The former U.S. president’s lawsuit, which was filed on March 24 in Florida state court, follows a complaint filed in February by those co-founders, Andy Litinsky and Wes Moss. Their lawsuit sought to prevent Trump from taking steps the two said would sharply reduce their combined 8.6% stake in Trump Media. The pair filed their lawsuit in the Delaware Court of Chancery.
Trump’s lawsuit claims that Litinsky and Moss, who were both contestants on Trump’s reality-TV show “The Apprentice,” mishandled an attempt to take Trump Media public several years ago, allegedly putting the whole project “on ice” for more than a year and a half.
But it also targets the pair over their Delaware suit against Trump, saying that it was one of several attempts they made to block Trump Media’s ultimately successful plan to go public. Trump Media accomplished that goal by merging with a publicly traded shell company called Digital World Acquisition in March.
Trump Media shares have fluctuated wildly since its stock market debut. On Tuesday, the stock closed at $51.60, up 6%, valuing the entire company at $5.9 billion.
2024-12-26 11:031476 view
2024-12-26 10:542172 view
2024-12-26 10:072207 view
2024-12-26 09:371470 view
2024-12-26 09:112797 view
2024-12-26 08:372246 view
Clusters of unidentified drones buzzing the night skies over New Jersey, Pennsylvania and New York h
Taylor Swift fans may have seen this film before, but they didn't like the ending. The "Exile" singe
Mary Anne Bryan is just about ready to sell the 3-bedroom brick Colonial where she raised her daught