How defended Trump after Truth social stock plummeted

How defended Trump after Truth social stock plummeted

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Truth Social owner Trump Media sues two former ‘Apprentices,’ seeking to wipe out their shares
By Matt Egan, CNN
2 minute read
Updated 8:55 PM EDT, Tue April 2, 2024

Trump posts Fox News clip to his social media. Expert thinks it violates gag order
02:08 - Source: CNN
CNN
—
Trump Media & Technology Group, the Truth Social owner controlled by former President Donald Trump, recently filed a lawsuit against two of its co-founders seeking to eliminate their stakes in the multi-billion dollar company.

The lawsuit marks the latest twist in the legal saga surrounding the quest to bring Trump Media and Truth Social public — a deal that has spiked Trump’s net worth and created a frenzy on Wall Street.

Trump Media filed a lawsuit on March 24 in Florida state court against Andy Litinsky and Wes Moss, two co-founders of Trump Media who were also contestants on Trump’s NBC show “The Apprentice.” That lawsuit alleges they made a series of “reckless and wasteful decisions” when they tried to set up the company that caused significant damage.

“Moss and Litinsky failed spectacularly at every turn,” the lawsuit said.

Lawyers representing United Atlantic Ventures — the company through which Litinsky and Moss do business — declined to comment.

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