DOVER, Del. — A Delaware judge on Tuesday granted a request by attorneys for Donald Trump and Trump Media & Technology Group, parent company of his Truth Social platform, to slow down a lawsuit filed by two cofounders of the company.
Litinsky and Moss filed a lawsuit in February claiming that Trump Media planned to dilute their stake in the company as part of a merger that took it public in late March. A different judge agreed to fast-track that lawsuit given the impending merger date. However, the plaintiffs’ concerns about their limited liability company’s 8.
Zurn noted that UAV was on notice about the lockup provision on Feb. 12 as the result of a filing that day with the Securities and Exchange Commission. That was followed by two other SEC filings documenting the lockup provision. Attorneys for Trump Media argue that the Florida lawsuit does not violate the Delaware court order because UAV in fact received its post-merger shares. They also say the venue provision does not apply to Trump Media and Technology Group.
Source: News Formal (newsformal.com)
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