The duo already filed a suit against Trump in February to prevent him from reducing their 8.6 per cent stake in the firm. They pitched the idea of Truth Social following the Capitol riot after Trump was banned from Twitter, now X. Their shares are currently valued at around $600 million . Both co-founders met Trump as contestants on NBC’s The Apprentice reality show. In the lawsuit, filed on March 24 in a Florida state court, lawyers for the former president said Messrs.
went public last week through a merger with a special purpose acquisition company, or SPAC. In their February lawsuit, Moss and Litinsky claimed the former president was trying to reduce their stake in the firm by increasing the company’s total number of shares from 120 million to 1 billion. Trump founded
in 2021 after he was kicked off of major social media platforms for his actions during the January 6 Capitol riot. Moss and Litinsky suggested Truth Social as an alternative to mainstream social media sites. They later agreed to a deal in which Trump would own 90% of the platform when it was a private company.
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