Trump sues two Truth Social co-founders, claiming the former Apprentice stars' ... trends now
Donald Trump is suing two co-founders of the parent company of his Truth Social platform, saying their mistakes cost him money and they should be stripped of their shares as the company goes public.
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 percent 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.
Donald Trump is suing two co-founders of the parent company of his Truth Social platform, saying their mistakes cost him money and they should be stripped of their shares as the company goes public
But it also targets the pair over their own 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.
Company shares have fluctuated wildly since its stock market debut. On Tuesday, the stock closed at $51.60, up 6 percent, valuing the entire company at $5.9 billion.
The co-founders accused Trump Media of trying to improperly dilute their stake, while the company said they had failed to earn their shares and that it wants to strip them of their ownership.
Andy Litinsky believed that he was sacked from the board because he didn't want to give over his equity - and also claimed Trump said 'multiple times' that he will 'blow up the company' if his demands weren't met.
Litinsky, the co-founder of Trump Media & Technology Group, sent an e-mail in March making the accusation, according to whistleblower Will Wilkerson.
Wilkerson was in charge of the company responsible for the Trump-themed social media platform Truth Social.
He was one of the first to go to work for TMTG - but fell out with the company after filing a whistleblower complaint with the Securities and Exchange Commission in August 2022, according to the Washington Post.
Trump experienced a stunning paper loss of $1 billion on his Trump media stock Monday, after a
