• News & Politics
  • Culture
  • Food
  • Science & Health
  • Money
  • Life Stories
  • Video
  • Reviews
    • Lifestyle
      • The New Sober Boom
      • Getting Hooked on Quitting
    • Education
      • Liberal Arts Cuts Are Dangerous
      • Is College Necessary?
    • Finance
      • Dying Parents Costing Millennials Dear
      • Gen Z Investing In Le Creuset
    • Crypto
      • Investing
        • SEC vs Celebrity Crypto Promoters
        • 'Dark' Personalities Drawn to BTC
Profile Log In/Sign Up Saved Articles Go Ad-Free Logout
subscribe
Help keep Salon independent
Newsletter
Profile Login/Sign Up
Saved Articles Go Ad-Free Logout
  • News & Politics
  • Culture
  • Food
salon logo
  • Science & Health
  • Money
  • Video

Trump in legal battle with Trump Media co-founders over back-and-forth regarding company shares

Trump argues that the Truth Social co-founders delayed attempts to go public, so should forfeit their shares

By Kelly McClure

Senior Culture Editor

Published April 3, 2024 5:21PM (EDT)

Former President Donald Trump speaks to guests at a rally on April 02, 2024 in Green Bay, Wisconsin. (Scott Olson/Getty Images)
Former President Donald Trump speaks to guests at a rally on April 02, 2024 in Green Bay, Wisconsin. (Scott Olson/Getty Images)
--

Shares

Facebook
Twitter
Reddit
Email

In a lawsuit filed on March 24 in Florida state court, Donald Trump is suing Andy Litinsky and Wes Moss — former contestants on Trump’s reality-TV show “The Apprentice,” and co-founders of Truth Social's newly public parent company, Trump Media & Technology Group — seeking forfeit of their shares.

In the filing, Trump alleges that Litinsky and Moss made "reckless and wasteful decisions," and caused "significant damage" to the company by getting in the way of an earlier attempt to take Trump Media public, causing a significant delay, and hits back at a complaint filed by the two of them in February in which they sought to block Trump from taking steps that they saw as potentially reducing their combined 8.6% stake.

"TMTG has been forced to file this action to remedy the harm inflicted upon it by two faithless fiduciaries and a company they own — Wesley Moss, Andrew Litinsky, and [United Atlantic Ventures] — and to halt their ongoing attempts to do even more damage," the filing said, per ABC News. Trump's stake in the company is currently worth more than $4 billion.

Joe Scarborough, former politician and co-host of Morning Joe on MSNBC, calls this "the Trumpiest story of all time,” weighing-in on the lawsuit saying, "So this guy starts a company, goes public, everything Trump does, you know, he loses billions of dollars it seems, and then he sues his co-founders. This is, literally, everything he does, his whole life. He gets a painter to paint his office, they’ll paint it, he’ll sue them, and say, ‘I’ll give you 50%.’ It is so sleazy . . . Everybody that goes into business with this guy regrets it because he’s a terrible businessman and he sues you.”

 


MORE FROM Kelly McClure

Advertisement:
  • Home
  • About
  • Staff
  • Contact
  • Privacy
  • Terms of Service
  • Archive
  • Go Ad Free

Copyright © 2025 Salon.com, LLC. Reproduction of material from any Salon pages without written permission is strictly prohibited. SALON ® is registered in the U.S. Patent and Trademark Office as a trademark of Salon.com, LLC. Associated Press articles: Copyright © 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


DMCA Policy