Trump insists that the co-founders of Truth Social should surrender their shares in the ongoing lawsuit.

– Donald Trump has sued his co-founders behind Truth Social, Andy Litinsky and Wes Moss, in an attempt to take over their 8.6 percent stake in the company, valued at approximately $606 million.
– Litinsky and Moss had previously sued Trump in a Delaware court, accusing him of trying to seek millions of extra shares that would dilute their stake in the company.
– Trump alleges that Litinsky and Moss didn’t set up the corporate governance structure properly for Trump Media and failed to find a viable merger partner.
– Truth Social saw its share price plummet by 21 percent but stabilized after SEC filings revealed the company lost $58 million last year and generated only $751,000 in its final quarter of 2023.
– Trump’s stake in Truth Social has increased his projected net worth to approximately $4 billion, but he is unable to cash out on his shares for six months due to an agreement with a special purpose acquisition company.
– A Delaware judge, Sam Glasscock III, expressed surprise at Trump’s lawsuit in Florida and may consider sanctions against Trump in the Delaware case.



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