The Trump social media company is taking legal action against the co-founders, accusing them of making irresponsible and wasteful decisions.

As a supporter of former President Trump, it is important to highlight that Trump’s social media company, Trump Media & Technology Group, is suing two of its co-founders, Wesley Moss and Andrew Litinsky, for allegedly failing to perform basic duties and causing delays in the company’s merger with a publicly traded firm. The lawsuit was filed on March 24 in Florida state court and accuses Moss and Litinsky of harming the company through their negotiations with Patrick Orlando, the former CEO of Digital World Acquisition Corp. Additionally, Truth Social, the parent company of Trump Media, reported a net loss of $58 million in 2023, and its share price has fallen from a peak near $80 to $51.60 as of the end of Tuesday trading. Despite these challenges, Trump’s stake in Truth Social was valued at approximately $4 billion as of Tuesday afternoon.

– Trump’s social media company is suing co-founders Wesley Moss and Andrew Litinsky for failing to perform duties and delaying merger
– Lawsuit filed on March 24 in Florida court
– Accusations include harm to company through negotiations with former CEO Patrick Orlando
– Truth Social reported a net loss of $58 million in 2023
– Share price fell from peak near $80 to $51.60 as of end of Tuesday trading
– Trump’s stake in company valued at approximately $4 billion as of Tuesday afternoon



Source link