In a desperate scramble to maintain control over his crumbling empire, Donald Trump has turned his litigious gaze towards the co-founders of Trump Media & Technology Group Corp.
Trump is accusing Andy Litinsky and Wes Moss of botching the company's establishment, and as a result, he is demanding that they relinquish their 8.6% stake in the company, currently valued at $606 million.
According to Bloomberg:
Trump claims Litinsky and Moss failed to properly set up the corporate governance structure of Trump Media, launch his Truth Social platform and find an appropriate merger partner. That failure hurt the company, he argues. He says they then "began ceaseless attempts to thwart" the blank check deal in the struggle for their respective stakes. In their own suit, the two say Trump was planning to seek millions of extra shares, diluting their stake.
Meanwhile, the shares of Trump Media plummeted 21% on Monday only to claw back 6.1% on Tuesday.
