• Sat. Apr 20th, 2024

Donald Trump Files Lawsuit against Co-Founders of Truth Social, Alleging Improper Setup and Mismanagement

BySamantha Jones

Apr 3, 2024
Lawsuit Filed by Donald Trump Against Co-Founders of Trump Media & Technology Group, Andy Litinsky and Wes Moss

In recent news, Donald Trump has filed a lawsuit against Andy Litinsky and Wes Moss, co-founders of Trump Media & Technology Group, the parent company of Truth Social. The lawsuit alleges that Litinsky and Moss should forfeit their stock in the company due to improper setup.

Litinsky and Moss had previously filed a complaint in February to prevent Trump from reducing their combined 8.6% stake in the company. However, this did not stop Trump from filing his lawsuit in the Delaware Court of Chancery.

The lawsuit accuses Litinsky and Moss of mishandling an attempt to take Trump Media public years ago. This alleged mismanagement caused a delay in the project for more than a year and a half. Additionally, Trump’s lawsuit criticizes Litinsky and Moss for their Delaware suit against him, which aimed to block Trump Media’s successful plan to go public by merging with Digital World Acquisition.

Since its market debut, Trump Media’s shares have experienced fluctuation. Most recently, the stock closed at $51.60, up 6%, valuing the company at $5.9 billion. Despite this success, the ongoing legal battle with Litinsky and Moss continues to be a point of contention for many investors.

In summary, Donald Trump has filed a lawsuit against Andy Litinsky and Wes Moss over improper setup of their parent company, Truth Social. The lawsuit accuses them of mishandling an attempt to take the company public years ago and delaying the project for over a year and a half. The ongoing legal battle continues despite recent successes in going public as investors remain divided on whether or not they should support or oppose the co-founders’ actions.

Trump Media & Technology Group Co-Founders Sued by Ex-President

By Samantha Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

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