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Trump sues two co-founders of Trump Media to revoke their shares in the company
Donald Trump is suing two co-founders of Trump Media & Technology Group, the newly publicized parent company of Trump's "truth social" platform. The former U.S. president of agriculture's lawsuit was filed in a Florida court on March 24, and follows a lawsuit filed in February by Andy Litinsky and Wes Moss, the two co-founders of the name. In the lawsuit, Trump claims that Litinsky and Moss, both former contestants on Trump's reality TV show The Apprentice, mishandled an attempt to take Trump Media public a few years ago, allegedly putting the entire project "on hold" for over a year and a half.
SAN FRANCISCO (AP) - Donald Trump is suing two co-founders of Trump Media & Technology Group, the parent company of Trump's newly-launched "Truth Social " platform's parent company.
The former U.S. President of Arbitron's lawsuit was filed in Florida state court on March 24th, following a lawsuit filed in February by Andy Litinsky and Wes Moss, the two co-founders of the name. Their lawsuit seeks to prevent Trump from taking what they say is a drastic cut in their 8.6% stake in Trump Media. They filed the lawsuit in the Delaware Court of Chancery.
Trump claims in the lawsuit that Litinsky and Moss, both former contestants on Trump's reality TV show The Apprentice, mishandled an attempt to list Trump Media a few years ago, and that the entire project was allegedly "put on hold" for over a year and a half.
But it also pointed the finger at the couple who sued Trump in Delaware, saying it was one of several attempts to block Trump Media's plan for an eventual successful IPO, which it achieved in March of this year by taking a publicly traded company, Digital World Acquisition, with them.
Shares of Trump Media have fluctuated wildly since its IPO. On Tuesday, the stock closed at $51.60, up 6%, valuing the company at $5.9 billion.
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