Trump Sues Truth Social Co-Founders, Alleging Their Mistakes Damaged Company and Stock Price

Donald Trump sued two Trump Media & Technology Group co-founders, Andy Litinsky and Wes Moss, claiming they made mistakes that damaged the company and caused the stock price to decline.

Litinsky and Moss have an 8.6% stake in the company currently valued at $606 million.

After an initial stock surge, prices have plunged this week and the company closed at $51.60 on Tuesday.

Trump blamed Litinsky and Moss for failures in establishing corporate governance and for attempting to thwart the SPAC deal.

Litinsky and Moss previously sued Trump in Delaware over their promised stake in Truth Social, which they initially pitched to Trump after he was banned from Twitter.