LOADINGERROR LOADINGSAN 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.Advertisement
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.Support HuffPostOur 2024 Coverage Needs YouYour Loyalty Means The World To UsAt HuffPost, we believe that everyone needs high-quality journalism, but we understand that not everyone can afford to pay for expensive news subscriptions. That is why we are committed to providing deeply reported, carefully fact-checked news that is freely accessible to everyone.Whether you come to HuffPost for updates on the 2024 presidential race, hard-hitting investigations into critical issues facing our country today, or trending stories that make you laugh, we appreciate you. The truth is, news costs money to produce, and we are proud that we have never put our stories behind an expensive paywall.Would you join us to help keep our stories free for all? Your contribution of as little as $2 will go a long way.As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That’s why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we’ll bring you hard-hitting investigations, well-researched analysis and timely takes you can’t find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.Contribute as little as $2 to keep our news free for all.Dear HuffPost ReaderThank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.The stakes are high this year, and our 2024 coverage could use continued support. Would you consider becoming a regular HuffPost contributor?Dear HuffPost ReaderThank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.The stakes are high this year, and our 2024 coverage could use continued support. If circumstances have changed since you last contributed, we hope you’ll consider contributing to HuffPost once more.Support HuffPostAlready contributed? Log in to hide these messages.Advertisement
RelatedTruth SocialNewspaper Editor Tells Readers He Must Say Truth About Trump, Even If It OffendsJimmy Kimmel Reveals Uncomfortable Truth Of Trump’s Latest Social Media MeltdownThe Financial Situation At Trump’s Truth Social Is A Disaster …
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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.Support HuffPostOur 2024 Coverage Needs YouYour Loyalty Means The World To UsAt HuffPost, we believe that everyone needs high-quality journalism, but we understand that not everyone can afford to pay for expensive news subscriptions. That is why we are committed to providing deeply reported, carefully fact-checked news that is freely accessible to everyone.Whether you come to HuffPost for updates on the 2024 presidential race, hard-hitting investigations into critical issues facing our country today, or trending stories that make you laugh, we appreciate you. The truth is, news costs money to produce, and we are proud that we have never put our stories behind an expensive paywall.Would you join us to help keep our stories free for all? Your contribution of as little as $2 will go a long way.As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That’s why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we’ll bring you hard-hitting investigations, well-researched analysis and timely takes you can’t find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.Contribute as little as $2 to keep our news free for all.Dear HuffPost ReaderThank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.The stakes are high this year, and our 2024 coverage could use continued support. Would you consider becoming a regular HuffPost contributor?Dear HuffPost ReaderThank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.The stakes are high this year, and our 2024 coverage could use continued support. If circumstances have changed since you last contributed, we hope you’ll consider contributing to HuffPost once more.Support HuffPostAlready contributed? Log in to hide these messages.Advertisement
RelatedTruth SocialNewspaper Editor Tells Readers He Must Say Truth About Trump, Even If It OffendsJimmy Kimmel Reveals Uncomfortable Truth Of Trump’s Latest Social Media MeltdownThe Financial Situation At Trump’s Truth Social Is A Disaster …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]