In February, Andy Litinsky and Wes Moss, co-founders of Trump Media & Technology Group, filed a complaint against Donald Trump in an attempt to prevent him from reducing their combined 8.6% stake in the company. Now, the legal battle between the two parties is playing out in both Florida state court, where Trump filed his lawsuit, and in the Delaware Court of Chancery where Litinsky and Moss filed their complaint.
Trump’s lawsuit claims that Litinsky and Moss mishandled an attempt to take Trump Media public years ago, causing the project to be delayed for over a year and a half. The legal action also alleges that Litinsky and Moss made several attempts to block Trump Media’s successful plan to go public by merging with Digital World Acquisition, a publicly traded shell company.
Since Trump Media went public, its shares have seen significant fluctuations. As of Tuesday, the company’s stock closed at $51.60, marking a 6% increase and valuing the entire company at $5.9 billion. The ongoing legal battle between Trump and the co-founders highlights the complex dynamics at play within the company and its leadership.
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