Trump Media Cofounders Sue, Allege Company Conspired to Greatly Dilute Their Stake Ahead of Merger
• Trump Media cofounders Litinsky and Moss file lawsuit claiming company conspired to dilute their stake from 8.6% to less than 1% ahead of merger
• Litinsky and Moss were contestants on "The Apprentice" who pitched Trump Media venture in 2021 and secured stake
• Lawsuit alleges Trump and executives maneuvered to increase authorized shares from 120 million to 1 billion, decreasing cofounders' stake
• Cofounders left company after dispute in 2021 but retained shares now worth nearly $300 million at current valuation
• Lawsuit complicates upcoming shareholder vote on long-delayed merger with Digital World Acquisition Corp to take Trump Media public