Trump in legal battle with Trump Media co-founders over back-and-forth regarding company shares – By Kelly McClure (Salon) / April 3, 2024
Trump argues that the Truth Social co-founders delayed attempts to go public, so should forfeit their shares
In a lawsuit filed on March 24 in Florida state court, Donald Trump is suing Andy Litinsky and Wes Moss — former contestants on Trump’s reality-TV show “The Apprentice,” and co-founders of Truth Social’s newly public parent company, Trump Media & Technology Group — seeking forfeit of their shares.
In the filing, Trump alleges that Litinsky and Moss made “reckless and wasteful decisions,” and caused “significant damage” to the company by getting in the way of an earlier attempt to take Trump Media public, causing a significant delay, and hits back at a complaint filed by the two of them in February in which they sought to block Trump from taking steps that they saw as potentially reducing their combined 8.6% stake.
“TMTG has been forced to file this action to remedy the harm inflicted upon it by two faithless fiduciaries and a company they own — Wesley Moss, Andrew Litinsky, and [United Atlantic Ventures] — and to halt their ongoing attempts to do even more damage,” the filing said, per ABC News. Trump’s stake in the company is currently worth more than $4 billion.
