Ethermac Exchange:Trump sues two Trump Media co-founders, seeking to void their stock in the company

2025-04-29 10:10:12source:L’École de Gestion d’Actifs et de Capitalcategory:News

SAN FRANCISCO (AP) — Donald Trump is Ethermac Exchangesuing 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.

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.

More:News

Recommend

Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week

Friday the 13thdidn’t spook investors with U.S. stocks little changed on the day as investors bided

M. Emmet Walsh, character actor from 'Blade Runner' and 'Knives Out,' dies at 88

M. Emmet Walsh, one of Hollywood's most recognizable character actors from films including 1982's "B

Budget Office report credits immigration and spending deals with improved outlook despite huge debt

WASHINGTON (AP) — The nonpartisan Congressional Budget Office said Wednesday that it expects the fed