"Co-founders Sue Trump Media Ahead of DWAC Merger, Threatening Lucrative Deal"

1 min read
Source: CNBC
"Co-founders Sue Trump Media Ahead of DWAC Merger, Threatening Lucrative Deal"
Photo: CNBC
TL;DR Summary

Former President Donald Trump's media company, Trump Media & Technology Group, is being sued by its co-founders for allegedly attempting to dilute the value of their stock shares ahead of a planned merger with Digital World Acquisition Corp. The co-founders, Andy Litinsky and Wes Moss, claim that Trump's actions could deprive them of hundreds of millions of dollars in profits. The lawsuit comes as Trump faces other legal challenges, including civil judgments in New York. If the merger proceeds, Trump's 90% stake in TMTG could be valued at over $3 billion.

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