Donald Trump is suing two co-founders of Trump Media & Technology Group, the newly public parent company of his Truth Social platform, arguing that they should forfeit their stock in the company because they set it up improperly.
3 hours agoFILE - Republican presidential candidate former President Donald Trump speaks at a campaign event in Grand Rapids, Mich., Tuesday, April 2, 2024. Trump filed a law suit on March 24, suing two co-founders of Trump Media & Technology Group, the newly public owner of his Truth Social platform, arguing that they should forfeit their stock in the company after allegedly setting it up improperly.
The former U.S. president's lawsuit, which was filed on March 24 in Florida state court, follows a complaint filed in February by those co-founders, Andy Litinsky and Wes Moss. Their lawsuit sought to prevent Trump from taking steps the two said would sharply reduce their combined 8.6% stake in Trump Media. The pair filed their lawsuit in the Delaware Court of Chancery.
But it also targets the pair over their Delaware suit against Trump, saying that it was one of several attempts they made to block Trump Media's ultimately successful plan to go public. Trump Media accomplished that goal by merging with a publicly traded shell company called Digital World Acquisition in March.
Trump Media shares have fluctuated wildly since its stock market debut. On Tuesday, the stock closed at $51.60, up 6%, valuing the entire company at $5.9 billion. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Trump Media & Technology Group Corp Stock Price Today | NASDAQ DJT Live TickerView today's Trump Media & Technology Group Corp stock price and latest DJT news and analysis. Create real-time notifications to follow any changes in the live stock price.
Baca lebih lajut »
Trump Media & Technology Group stock falls more than 21% after disclosure of $58M loss for 2023Less than a week after a flashy stock market debut, Donald Trump's social media company on Monday disclosed that it lost nearly $58.2 million last year, sending its stock tumbling more than 21%.
Baca lebih lajut »
Truth Social parent company Trump Media & Technology Group to become publicly traded companyEXCLUSIVE: Shareholders voted Friday to make Trump Media & Technology Group, the parent company of Truth Social, a publicly traded entity, Fox News Digital has learned.
Baca lebih lajut »
Trump Media & Technology Group lost $58m last year, shares sinkTrump Media & Technology Group lost $58m last year, shares sink
Baca lebih lajut »
Trump Media & Technology Group lost $58m last year, shares sinkTrump Media & Technology Group lost $58m last year, shares sink
Baca lebih lajut »
Trump Media & Technology Group shares plummet after reporting $60 million lossShares of Trump Media & Technology Group (TMTG) dropped by over 23% after reporting a loss of nearly $60 million. The company, which went public through a merger with Digital World Acquisition Corp., had a revenue of $4.1 million but an operating loss of over $58 million. The stock surged during its market debut but declined significantly after the disclosure.
Baca lebih lajut »