Trump Media sues its co-founders, accuses them of 'severe mismanagement'
- Trump Media is suing its co-founders for allegedly failing to launch the company and trying to obstruct the deal.
- After Trump Media went public, the stock surged up to 50%, but plummeted following a $58.2 million loss in 2023.
- Trump Media's lawsuit is seeking damages for alleged breaches of fiduciary duty by the co-founders, who are pushing back with claims of owed stock.
113 Articles
113 Articles
Trump Media sues co-founders alleging former 'Apprentice' contestants' stock ownership claim is void
Trump Media & Technology Group (TMTG) is suing two Truth Social co-founders, arguing they are not entitled to the 8.6% stake in the company they claim to own.TMTG, the social media firm launched by former President Donald Trump, filed a lawsuit last month in Florida court against former "Apprentice" contestants Wesley Moss and Andrew Litinsky, claiming an agreement between the co-founders and Trump himself that laid out ownership is now void.The…
Trump Sues Truth Social Co-Founders, Alleges Corporate Sabotage
Former president Donald Trump has filed a lawsuit against two key figures behind his Truth Social venture, Trump Media and Technology Group (TMTG), alleging improper establishment of the company and demanding the forfeiture of their shares. The lawsuit targets Andy Litinsky and Wes Moss, both former participants on Trump’s NBC reality show “The Apprentice,” who transitioned into roles as co-founders of TMTG. Trump’s lawsuit, filed in Sarasota C…
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