"Trump Media Sues Co-Founders for Mismanagement and Seeks to Wipe Out Their Shares"

Trump Media & Technology Group is suing its co-founders, Wesley Moss and Andrew Litinsky, accusing them of mismanagement and attempting to obstruct the company's public offering. The lawsuit seeks to prevent Moss and Litinsky from appointing board members or owning shares in the company. The co-founders claim an 8.6% share of the company, valued at approximately $601 million, based on a 2021 agreement. Trump Media alleges that Moss and Litinsky's decisions caused significant damage to the company and a decline in stock price, and also accuses DWAC founder Patrick Orlando of involvement in breaches of fiduciary duty. The lawsuit aims to recover damages and dismiss the co-founders' claim to stock.