Trump Sues Truth Social Co-Founders

Suit claims that former 'Apprentice' contestants 'failed spectacularly at every turn'
By Rob Quinn,  Newser Staff
Posted Apr 3, 2024 1:30 AM CDT
Trump Sues Truth Social Co-Founders
Donald Trump's Truth Social account is seen on a mobile device.   (AP Photo/John Minchillo, File)

Donald Trump wants to cut the two former Apprentice contestants who co-founded Truth Social out of their shares in the company—but it's not as simple as saying, "You're fired." Trump has filed a lawsuit in Florida against Andy Litinsky and Wes Moss, saying they bungled their task of setting up Trump Media and Technology Group and don't deserve their 8.6% stake, NBC News reports. The lawsuit claims that Litinsky and Moss failed to set up a correct corporate governance structure and find an "appropriate merger partner," causing delays that hurt the company, reports Bloomberg.

"Moss and Litinsky failed spectacularly at every turn," the lawsuit states, per CNN. It accuses them of making "reckless and wasteful" decisions. The pair sold Trump on the idea of setting up his own social media platform when he was banned from what was then Twitter after the Capitol riot, NBC reports. The lawsuit claims that Truth Social was a "phenomenal opportunity" for Moss and Litinsky, who were "riding President Trump's coattails."

Trump Media went public last week after merging with a holding company. Its stock price initially soared. It fell sharply in the following days but Moss and Litinsky's stake is still worth around $444 million. The Trump lawsuit argues that they should be stripped of their shares for violating agreements. Moss and Litinsky sued the company in Delaware in February, arguing that Trump was trying to dilute their stake. At a hearing Monday, the judge in the Delaware case said he was " gobsmacked" to learn that Trump had filed a lawsuit in Florida instead of filing a countersuit in Delaware, Bloomberg reports. (More Truth Social stories.)

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