How Desire Paths can Transform your Branding and Public Relations
How Desire Paths can Transform your Branding and Public Relations
12 Steps to Create Videos

Here’s why Trump’s social media company is suing its co-founders [Video]

Categories
Corporate Business Marketing

(The Hill) — Former President Trump’s social media company is suing two of its co-founders, claiming they failed to perform basic duties and delayed the firm’s recent merger with “a series of reckless and wasteful decisions.”

The lawsuit from Trump Media & Technology Group, the parent company of Truth Social, alleges that Wesley Moss and Andrew Litinsky “failed spectacularly” to set up a corporate leadership structure for the company and nearly derailed its plans to merge with a publicly traded firm.

The suit was filed March 24 in Florida state court and was first reported Tuesday by Bloomberg News. Trump owns 57.3 percent of Trump Media through holding 78,750,000 shares of the company, according to Securities and Exchange Commission (SEC) records.

The lawsuit also names as defendants United Atlantic Ventures (UAV) — an entity run by Moss and Litinsky — and Patrick Orlando, the former CEO of Digital World Acquisition Corp. …

5 Steps to Building an Audience with #Hashtags
5 Steps to Building an Audience with #Hashtags
5 Steps to Creating Successful Ads