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Truth Social Co-Founders Sue Company, Claim Trump Tried To Dilute Shares
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Truth Social Co-Founders Sue Company, Claim Trump Tried To Dilute Shares
“They created Truth Social, and now the beneficiary of that, Donald Trump, doesn’t want to pay,” a lawyer said as the company seeks a $4 billion merger deal.
An estimated $4 billion business merger involving the Florida Criminal Donald Trump’s social media company could hit a major snarl after a lawsuit was filed Wednesday accusing Trump of trying to dilute the co-founders’ shares.
Andy Litinsky and Wes Moss, who co-founded Trump’s Truth Social platform, filed a lawsuit in Delaware claiming their previously negotiated 8.6% stake in Trump Media & Technology Group (TMTG ) has been watered down to less than 1%,
The Washington Post and CNBC reported.
“The attempt here is to deprive them of the deal,” attorney Christopher J. Clark, who is representing Litinsky and Moss’ partnership, United Atlantic Ventures (UAV), in the complaint, told CNBC News. “They actually went out and did the work, they created Truth Social, and now the beneficiary of that, Donald Trump, doesn’t want to pay.”
https://www.yahoo.com/news/tech/ousted-architect-trump-truth-social-213940588.html
https://www.huffpost.com/entry/truth-social-founders-sue-trump-shares_n_65e0e296e4b013678e1468b5
yahoo.com
Ousted architect of Trump’s Truth Social merger sues to block potential $10B deal
The combined company could be worth $10 billion and the former president's stake could be worth billions of dollars.
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3 Replies
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Unbelievable! He is still breaking the law! He hasn’t learned a thing! Dumb asshole.
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Anyone who gets into bed with Trump gets screwed… regardless if you like it or not
https://crooksandliars.com/2024/03/trumps-partners-truth-social-are-suing-him
crooksandliars.com
Trump's Partners In Truth Social Are Suing Him To Block Merger
An investment vehicle controlled by former DWAC Chairman and CEO Patrick Orlando sued in Chancery court to block the merger unless it receives a larger number of shares from the combination than DWAC proposes, Reuters reported.
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What a shock! Like people say: everything dickhead touches, dies.
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