India  

Trump’s Social Media Company Sues Co-Founders

Video Credit: Wibbitz Top Stories - Duration: 01:30s - Published
Trump’s Social Media Company Sues Co-Founders

Trump’s Social Media Company Sues Co-Founders

Trump’s Social Media Company , Sues Co-Founders.

Trump Media & Technology Group filed a lawsuit against co-founders Wesley Moss and Andrew Litinsky on March 24, ABC News reports.

The suit came two days before shareholders approved a merger that allowed the company to begin trading on the Nasdaq.

The lawsuit alleges that the two men "failed spectacularly" to lead the company and made "reckless and wasteful decisions" that resulted in "significant damage.".

Trump Media wants the co-founders to give up their shares of the company, among other things.

.

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, Via lawsuit.

Moss and Litinsky's company, United Atlantic Ventures, owns 5.5% of Trump Media, according to the SEC.

That amounts to 7,525,000 shares which are worth about $388 million.

Donald Trump's stake in the company is currently valued at over $4 billion.

Since going public last week, the stock has been very volatile.

.

At one time, shares peaked over $79.

On April 1, they plunged by 21%.

Shares recovered slightly on April 2


You Might Like


💡 newsR Knowledge: Other News Mentions

Donald Trump Donald Trump President-elect and 45th president of the United States

Gaetz withdraws name from consideration as Trump's pick for Attorney General [Video]

Gaetz withdraws name from consideration as Trump's pick for Attorney General

The Republican's announcement follows continued scrutiny over a federal sex trafficking investigation that cast doubt on his ability to be confirmed as the nation's chief federal law enforcement officer.

Credit: euronews (in English)    Duration: 01:15Published

Robertson sets up Trump meeting at UK Championship

Neil Robertson will play world number one Judd Trump in the first round of the UK Championship after beating Matthew Stevens 6-2 in the final qualifier.
BBC Sport

Incoming Trump White House Press Secretary Laughs at Ellen DeGeneres Leaving U.S.

Donald Trump's incoming press secretary's a woman of few words ... 'cause we asked her for her reaction to Ellen DeGeneres and her wife Portia de Rossi leaving..
TMZ.com
French trade minister flags defensive trade tools for Trump presidency [Video]

French trade minister flags defensive trade tools for Trump presidency

As the 27 trade ministers gathered for the first time since Donald Trump's re-election, the use of defensive trade tools against the US could be an option in case of Trump's aggressive trade policy, according to French minister Sophie Primas.

Credit: euronews (in English)    Duration: 01:16Published

Nasdaq Nasdaq American stock exchange

PM visits NASDAQ and has image projected in Times Square [Video]

PM visits NASDAQ and has image projected in Times Square

Keir Starmer visits the studio and trading floor of NASAQ in New York City ahead of his speech at the UN General Assembly. An image of the prime minister is also projected onto the NASDAQ screen in Times Square. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Credit: ODN    Duration: 01:50Published

U.S. Securities and Exchange Commission U.S. Securities and Exchange Commission Government agency overseeing stock exchanges

Adani Group's FIRST REACTION after US indicts Gautam Adani in alleged bribery case

The Adani Group on Thursday strongly refuted bribery allegations made by the US Department of Justice and the US Securities and Exchange Commission against..
DNA

'Intimate nexus': Congress reacts to US bribery allegations against Adani

The US Securities and Exchange Commission (SEC) has charged Gautam Adani with bribery and fraud, alleging he concealed information about his company's solar..
IndiaTimes

Related videos from verified sources

Self Immolation 2: Dingus Boogaloo/Hillary Projects Murdery Thoughts/Caitlin Clark v AB | 4.22.24 [Video]

Self Immolation 2: Dingus Boogaloo/Hillary Projects Murdery Thoughts/Caitlin Clark v AB | 4.22.24

Tonight, we discuss: A man, Max Azzarello, has died after setting himself on fire on Friday outside the New York courthouse where Donald Trump’s historic hush-money trial was taking place; Hillary..

Credit: RumblePublished
Trump Media Stocks Surge Amid Speculation of Market Manipulation [Video]

Trump Media Stocks Surge Amid Speculation of Market Manipulation

Trump Media, the parent company of Truth Social, has sent a warning to Nasdaq Inc. about suspected market manipulation. In a letter to the exchange, Devin Nunes, the CEO of Trump Media, expressed..

Credit: FanReviews     Duration: 00:43Published
Donald Trump Can Still Cash In Big as Truth Social Continues to Tumble [Video]

Donald Trump Can Still Cash In Big as Truth Social Continues to Tumble

Welcome to Fan Reviews News. It has been a tough start to the week for Donald Trump. After numerous attempts to delay the case against him, he now finds himself sitting in a New York City courtroom...

Credit: FanReviews     Duration: 00:44Published