Posted 2/29/2024, 9:56:22 PM
Trump's Truth Social Co-Founders Sue, Allege Share Dilution Ahead of Merger
- Co-founders of Trump's Truth Social platform sue, allege Trump trying to dilute their shares ahead of $4B merger
- Co-founders Litinsky and Moss say their stake dropped from 8.6% to under 1%
- Suit comes as Trump Media & Technology Group eyes merger with Digital World Acquisition Corp
- Merger could throw financial lifeline to Trump, who faces over $355M judgment against him
- Not first controversy around Truth Social founders and stocks; earlier founder alleged Trump sons asked for handout