Posted 4/3/2024, 10:01:08 AM
Trump Sues Truth Social Co-Founders, Alleging Mismanagement of Plans to Take Company Public
- Donald Trump is suing two co-founders of his Truth Social network, claiming they mishandled taking the company public and should lose their shares
- The lawsuit targets former Apprentice contestants Andy Litinsky and Wes Moss, who own a combined 8.6% stake in the parent company
- Trump accuses them of putting plans to take the company public "on ice" for over a year, causing "significant damage"
- The lawsuit comes after Litinsky and Moss sued to prevent Trump from reducing their stake
- Shares in the parent company have fluctuated wildly since going public last week, leaving it valued around $5.9 billion