"Trump Media Sues Truth Social Co-Founders, Seeks Share Forfeiture"

1 min read
Source: Rolling Stone
"Trump Media Sues Truth Social Co-Founders, Seeks Share Forfeiture"
Photo: Rolling Stone
TL;DR

Donald Trump's company, Trump Media & Technology Group, has filed a lawsuit against two co-founders of Truth Social, accusing them of mismanagement and seeking to eliminate their stake in the company. This comes after the co-founders filed their own suit against Trump's company, alleging an attempt to dilute their shares. Truth Social's stock prices plummeted after the company's financial losses were made public, with reported losses of over $100 million in two years. The outcome of these legal battles could have significant financial implications for Trump as he grapples with mounting legal expenses.

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