Trump Sues To Seize Shares From Truth Social Founders

Bloomberg News reports:

Donald Trump has sued two co-founders of his newly public Trump Media & Technology Group Corp., claiming they set the company up improperly and shouldn’t get any stock in it.

In the latest legal skirmish over who gets how much of the hot but flailing meme stock, Trump alleges that Andy Litinsky and Wes Moss violated an agreement about the setup and don’t deserve their 8.6% stake, currently valued at $606 million.

The lawsuit, which was filed on March 24 in Florida state court and hasn’t previously been reported, comes after the pair brought their own suit against the former president in Delaware Chancery Court over their promised stake in the social media company.

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Donald Trump has sued his co-founders behind Truth Social in an attempt to take over their shares in the company, alleging they bungled their duties and aren’t worthy of holding stake in the company. https://t.co/dvKe7mVnqi

— The Daily Beast (@thedailybeast) April 2, 2024