Current:Home > NewsTrump sues two Trump Media co-founders, seeking to void their stock in the company-VaTradeCoin
Trump sues two Trump Media co-founders, seeking to void their stock in the company
lotradecoin decentralized exchange features View Date:2024-12-25 23:23:19
SAN FRANCISCO (AP) — Donald Trump is suing two co-founders of Trump Media & Technology Group, the newly public parent company of his Truth Social platform, arguing that they should forfeit their stock in the company because they set it up improperly.
The former U.S. president’s lawsuit, which was filed on March 24 in Florida state court, follows a complaint filed in February by those co-founders, Andy Litinsky and Wes Moss. Their lawsuit sought to prevent Trump from taking steps the two said would sharply reduce their combined 8.6% stake in Trump Media. The pair filed their lawsuit in the Delaware Court of Chancery.
Trump’s lawsuit claims that Litinsky and Moss, who were both contestants on Trump’s reality-TV show “The Apprentice,” mishandled an attempt to take Trump Media public several years ago, allegedly putting the whole project “on ice” for more than a year and a half.
But it also targets the pair over their Delaware suit against Trump, saying that it was one of several attempts they made to block Trump Media’s ultimately successful plan to go public. Trump Media accomplished that goal by merging with a publicly traded shell company called Digital World Acquisition in March.
Trump Media shares have fluctuated wildly since its stock market debut. On Tuesday, the stock closed at $51.60, up 6%, valuing the entire company at $5.9 billion.
veryGood! (84138)
Related
- 'Mary': How to stream, what biblical experts think about Netflix's new coming
- Almost 10 million workers in 22 states will get raises on January 1. See where wages are rising.
- Ariana Grande and Boyfriend Ethan Slater Have a Wicked Date Night
- Inside the unclaimed baggage center where lost luggage finds new life
- Beyoncé will perform halftime during NFL Christmas Day Game: Here's what to know
- Nikki Haley, asked what caused the Civil War, leaves out slavery. It’s not the first time
- 'I thought it was a scam': Michigan man's losing lottery ticket wins him $100,000
- High surf warnings issued for most of West Coast and parts of Hawaii; dangerous waves expected
- Drew Barrymore Addresses Criticism Over Her Touchiness With Talk Show Guests
- New Mexico native will oversee the state’s $49B savings portfolio amid windfall from petroleum
Ranking
- Taylor Swift makes history as most decorated artist at Billboard Music Awards
- Denver police investigating threats against Colorado Supreme Court justices after ruling disqualifying Trump from holding office
- Hong Kong man jailed for 6 years after pleading guilty to a terrorism charge over a foiled bomb plot
- Logan Bowman, 5, went missing 20 years ago. Now his remains have been identified.
- When does 'No Good Deed' come out? How to watch Ray Romano, Lisa Kudrow's new dark comedy
- What do the most-Googled searches of 2023 tell us about the year? Here's what Americans wanted to know, and what we found out.
- Mega Millions now at $73 million ahead of Tuesday drawing; See winning numbers
- On the headwaters of the Klamath River, water shortages test tribes, farmers and wildlife
Recommendation
-
Secretly recorded videos are backbone of corruption trial for longest
-
Texas has arrested thousands on trespassing charges at the border. Illegal crossings are still high
-
The Excerpt podcast: 2023 in Music - Taylor Swift, Beyoncé and More
-
AP concludes at least hundreds died in floods after Ukraine dam collapse, far more than Russia said
-
Albertsons gives up on Kroger merger and sues the grocery chain for failing to secure deal
-
TikToker Mikayla Nogueira Addresses Claim She Lost 30 Lbs. on Ozempic
-
Good girl! Virginia police dog helps track down missing kid on Christmas morning
-
Jury deadlocks in trial of Alabama man accused of 1988 killing of 11-year-old Massachusetts girl