Donald J. Trump has filed a lawsuit against two co-founders of Trump Media, the parent company of Truth Social, claiming that they mismanaged the social media site and should lose their shares of the company. Wes Moss and Andy Litinsky were competitors on “The Apprentice,” an NBC reality show hosted by Trump in the mid-2000s.
They previously filed a case in February against Trump to stop him from decreasing their 8.6% stake—currently worth around $600 million—in the company. The lawsuit alleges that Trump was attempting to reduce their stake by upping the company’s total number of shares from 120 million to 1 billion.
Trump’s lawsuit claims that the co-founders “made a series of reckless and wasteful decisions at a critical time that caused significant damage to TMTG and a decline in the stock price of its merger partner.” The lawyers also said that Moss and Litinsky hindered the process of taking Trump Media & Technology Group public, which happened last week.
