Donald Trump's media venture, Truth Social, is facing legal challenges as its co-founders have filed lawsuits against the company, accusing Trump of scheming to deprive them of their rightful stake, potentially worth hundreds of millions of dollars. These legal troubles come amidst efforts to take Truth Social public, a move that could significantly benefit Trump financially, with his stake potentially valued at more than $3 billion. However, the process has encountered obstacles, including scrutiny from the SEC and a recent hiccup in the public offering. The SEC has cleared the merger deal, but there's a lawsuit aiming to block a potential $10B deal, with accusations of manipulating stock to reduce the co-founders' stake by over $50 million. Additionally, there's speculation about $TRUMP becoming the digital currency of Truth Social.
Truth Social Co-Founders Sue Company, Claim Trump Tried To Dilute Shares https://t.co/lNmDC5bFWt
BREAKING: Trump SUED by Truth Social co-founders, who accuse him of manipulating stock to reduce their stake in company by over $50 million. Serious securities lawsuit in Delaware that threatens to derail the Truth Social deal that was supposed to be Trump’s financial lifeline.
"Former President Trump was accused in a lawsuit on Wednesday of trying to “drastically dilute” the value of stock shares in his social media company held by the firm’s co-founders, potentially depriving them of hundreds of millions of dollars in profits." https://t.co/FnsmmIhTeR
Plans to take former President Donald Trump's social media platform Truth Social public came under fire in two lawsuits Wednesday, with investors on both sides of the deal alleging that the long-delayed merger would cheat them out of their shares. https://t.co/n24QUaPDNp https://t.co/uOoBXrM9ll
Two founders of Trump's media business are suing the company they once started, claiming Trump’s media business is trying to dilute their stakes in the company. https://t.co/5kLzJLCJi4 https://t.co/1cbQUiQdhk
Trump media company co-founders allege ‘stock grab’ in lawsuit https://t.co/NUz09LiQ4M
Former President Trump was accused in a lawsuit of trying to “drastically dilute” the value of stock shares in his social media company held by the firm’s co-founders, potentially depriving them of hundreds of millions of dollars in profits. https://t.co/3HCd2oY0nY
Ousted architect of Trump’s Truth Social merger sues to block potential $10B deal https://t.co/btRYVkjfDy https://t.co/PIB6sjw6Ll
https://t.co/6TkDc2EFjF "Trump Media co-founders sue company, alleging a scheme to dilute shares"
Trump Media sued by co-founders ahead of DWAC merger, potential setback for lucrative deal https://t.co/4TpWbzrSRp
The co-founders of Donald Trump's #Florida media company, Truth Social, accuse him of scheming to lock them out of a stake in the company potentially worth millions of dollars. https://t.co/NElaPotmGL h/t @Margoandhow
Trump Media Co-Founders File Lawsuit Claiming Company Tried To Dilute Their Stake https://t.co/xyejQspiLp https://t.co/1CwqOlPQex
The co-founders of former president Donald Trump’s media company filed a lawsuit Wednesday, claiming that Trump and other leaders had schemed to deprive them of a stake in the company that could be worth hundreds of millions of dollars. https://t.co/tGHPvh5LSq
BREAKING: Trump stands to make billions after the SEC clears the Truth Social merger deal.
Good news for Trump: His stake in the parent company of Truth Social could be worth more than $3 billion, which is more than his current legal penalties. Bd news for Trump: There's yet another hiccup in the belabored effort to take Truth Social public. https://t.co/CQ4N4gV3nT
Imagine $TRUMP became the digital currency of Truth Social. https://t.co/YhsR8w0pR9
Donald Trump could make a lot of money from Truth Social’s stock, but its business prospects are questionable. | By @baseballcrank https://t.co/PvZOcjRApO
Just posted by Donald Trump on Truth Social: https://t.co/3TLYQJG87c
Me @NRO: Truth Social's Going Public Might Save Donald Trump’s Bottom Line — but Don’t Bet on It https://t.co/JjN4Xmlms4
Donald Trump’s stake in his social media company could be worth as much as $4 billion once a long-delayed merger closes. The deal could be a potential financial lifeline for Trump at a time when he must pay $454 million in a civil fraud case. https://t.co/ooh7DQesRM