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Trump Media co-founders sue company, alleging a scheme to dilute shares

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Thu, 29 Feb 24 7:56 PM | 27 view(s)
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Say it isn't so, Trump cheat...
These fking people never stop.

Trump Media co-founders sue company, alleging a scheme to dilute shares
The case could complicate a long-delayed bid by the owner of Truth Social to go public — and deliver former president Donald Trump a financial lifeline

The co-founders of former president Donald Trump’s media company filed a lawsuit Wednesday, claiming that Trump and other leaders had schemed to deprive them of a stake in the company that could be worth hundreds of millions of dollars.

The case could complicate a long-delayed bid by Trump Media & Technology Group, owner of the social network Truth Social, to merge with a special purpose acquisition company called Digital World Acquisition and become a publicly traded company.

That merger deal, which could value Trump’s stake in the company at more than $3 billion, would offer the former president a financial lifeline at a time when he is facing more than $454 million in penalties from a civil fraud judgment this month in New York.

Representatives for Trump, Trump Media and Digital World did not immediately respond to requests for comment.

more:
http://www.washingtonpost.com/technology/2024/02/29/truth-social-lawsuit-trump-media-founders/?


Do something positive.


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