"Trump Media & Technology Group Corp. argued that Wes Moss and Andy Litinsky made a series of costly mistakes that delayed the company’s going public."
Two cofounders of former President Donald Trump's media company have filed a lawsuit claiming executives at the company schemed to deprive them of shares that could be worth hundreds of millions of dollars ahead of a possible merger.
Litinsky and Moss first came to Trump in 2021 with a pitch for a Trump-branded media startup after he was barred from Twitter, and they agreed on a deal that gave Trump a 90% stake and UAV 8.6%, per The Post.
The new lawsuit claims that Trump and other leaders sought to increase the amount of authorized stock from 120 million shares to 1 billion shares, which would reduce Litinsky and Moss' stake to less than 1% ahead of the merger, the report said.
It’s tanking because corrupt hedge funds are shorting the ever loving shit out of it. Maybe I’m reaching here, but I assume that Trump is allowing them to take the bait, before he does something that will trap the shorts, and send the share price up.
Initially I bought on day one, pre-market the morning after Trump announced it on Hannity’s show one evening. I bought because I liked the idea of TRUTH Social, and wanted to be a part of it.
But of course profiting from it is the icing on the cake 😎
I got mine right around the same time and for much the same reasons. I saw it as a statement, even though I never signed up for TruthSocial. Didn't get in on the ground floor for $12, but pretty close to it at $18. 💎👐 🎂
I didn't see this posted here.
"Trump Media & Technology Group Corp. argued that Wes Moss and Andy Litinsky made a series of costly mistakes that delayed the company’s going public."
These guys sued Trump Media in February saying they were getting cheated out of their shares.
https://www.businessinsider.com/trump-media-company-cofounders-sue-scheme-dilute-shares-2024-3
Thank you for adding this info
Payback time.
I hope the stock goes below $20 so I can add more !
Hope the stock price doesn't tank too much over this. It's a little below $50 right now.
It’s tanking because corrupt hedge funds are shorting the ever loving shit out of it. Maybe I’m reaching here, but I assume that Trump is allowing them to take the bait, before he does something that will trap the shorts, and send the share price up.
Patiently hodling, as I have been since Oct 2021.
I thought they have already been shorting it.
I, also, hope this is Trump bait of excellent quality.
Been holding mine since the beginning, and will keep doing so. I didn't buy them to make me rich.
Initially I bought on day one, pre-market the morning after Trump announced it on Hannity’s show one evening. I bought because I liked the idea of TRUTH Social, and wanted to be a part of it.
But of course profiting from it is the icing on the cake 😎
I got mine right around the same time and for much the same reasons. I saw it as a statement, even though I never signed up for TruthSocial. Didn't get in on the ground floor for $12, but pretty close to it at $18. 💎👐 🎂
Make dwac great again. Purge the cancer