Trump Media & Technology Group, the parent company of Truth Social, is at the center of a legal dispute between former reality-TV show contestants and current President Donald Trump. The lawsuit filed by Trump against Andy Litinsky and Wes Moss accuses them of mishandling an attempt to take Trump Media public years ago, which caused a delay in the project for more than a year and a half.
Litinsky and Moss, who appeared on “The Apprentice,” are also being criticized for their Delaware suit against Trump, which aimed to block the successful plan by Trump Media to go public through a merger with Digital World Acquisition. Despite ongoing legal battles, Trump Media’s shares have been experiencing fluctuation since its market debut. Recently, the stock closed at $51.60, up 6%, valuing the company at $5.9 billion.
Trump has accused Litinsky and Moss of improper setup in setting up their ownership stake in Trump Media & Technology Group, leading to their lawsuit in the Delaware Court of Chancery. The lawsuit claims that they should forfeit their stock in the company due to their alleged mismanagement of an attempt to take it public several years ago. Despite this legal battle, Trump Media’s success in going public has been a significant development and continues to be a point of contention among those involved.
