"Truth Social" sued by co-founders

[SleeplessinSoCal]

Source: Huffpost

Truth Social Co-Founders Sue Company, Claim Trump Tried To Dilute Shares

"They created Truth Social, and now the beneficiary of that, Donald Trump, doesn’t want to pay," a lawyer said as the company seeks a $4 billion merger deal."





Read more: https://www.huffpost.com/entry/truth-social-founders-sue-trump-shares_n_65e0e296e4b013678e1468b5

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Same old, same old. Fool me once. This is from TODAY!

Nothing good or honest comes from him. And nothing will stop him. The Republucan Party's hatred of Democrats and democracy is going to end this country. I think California may seriously consider secession if he's elected, given his behavior.

[redstatebluegirl]

1. Everything Trump touches goes broke.

[forgotmylogin]

20. Back up, you said TRUMP DOESN'T WANT TO PAY FOR SOMETHING?

Where's that fainting couch? I may have to lay down. Just for a bit this is such a shock.

[Captain Zero]

26. Which could be the US Treasury

If he gets another term.

[BlueKota]

2. Well hopefully the Civil Courts at least

will continue to hold his tiny feet to the proverbial fire.

I hope if tfg cheats his way into office in November, NY may consider the same thing that California might.

[dlk]

3. When you go into business with a proven deadbeat...

This is what they signed up for.

[Ray Bruns]

21. That knew he was a snake when they went into business with him.

[Ray Bruns]

22. They knew he was a snake when they went into business with him

[Joinfortmill]

4. Well, it's not like they shouldn't have known.

[BlueKota]

5. Why do people continue to willingly get in

to business with him, then act surprised when he cheats them? It's not like he hasn't done it to many, many, many people before, or it hasn't been well publicized. I bet these same people believe those emails that a foreign prince they never met died, and left them a fortune. 🤣🤣

[Ray Bruns]

23. You're telling me I didn't win the billion dollar lottery in Nigeria?

[BlueKota]

24. 🤣

[Comfortably_Numb]

6. Anybody that threw in with the career criminal fraudster grifter deserves everything they get. Damn. Seriously? Fraud?

Drumph? Sheesh

[Dyedinthewoolliberal]

7. This is me not caring.

that someone would go into business with Hair Furor and then be surprised by this. Sheesh!

?si=5lP1njZNQRVFvDwH

[SleeplessinSoCal]

8. I doubt they're surprised.

But he is giving a master class in corruption to all the wannabe fraudsters in the world.

[Novara]

9. He's skimming because he wants to use money from this deal to settle his legal judgments

I sure hope they succeed in their lawsuit AND make this drag out forever. As long as it's tied up in court, he can't touch it.

And he still has to come up with half a billion dollars in a little over 20 days.

The clock is ticking , loser.

[ZonkerHarris]

10. If you get into bed with a snake you should expect to get bit

[FakeNoose]

11. Why would ANYONE agree to be Chump's partner in ANYTHING?

It's not like they didn't know he was conning everyone ... because they DID know.
We all watched him con the entire country in real time.

[SleeplessinSoCal]

12. They gave him 90% of their idea.

They had to have anticipated he would want it all. They were on The Apprentice. Why are all these people so dupable?

[SouthernDem4ever]

13. If I were a major shareholder of Digital World Acquisition Corp

I would vote against the sale. Everything Dump sells goes to shit of course after he takes the money and runs.

[Wonder Why]

14. You founders wil need to get at the end of the line. There's 300 ahead of you.

[SleeplessinSoCal]

15. I still can't believe it's valued at $339 million.

Misinformation is a rip-off!

[Hekate]

16. Tsk. Lie down with dogs, get up with fleas.

[TexasBushwhacker]

17. Hee hee hee

[Martin68]

18. When are investors going to realize that investing in a con man is a losing game?

[SergeStorms]

19. "Donald Trump doesn't want to pay"?

Say it ain't so, Joe, please.....say it ain't so!

It's nice to see that some things never change.

[Kennah]

25. Midas Touch yields gold, Trump Touch yields fool's gold and fools

[LetMyPeopleVote]

27. Delaware Judge was reportedly "gobsmacked" at learning of the former president pursuing separate litigatation

TFG had been sued in Delaware earlier by Litinsky and Moss and so any claims that TFG had against these two persons needed to be litigated in Delaware. TFG's claims are compulsory counterclaims and TFG should be sanctioned for filing a separate lawsuit in Florida

Link to tweet

https://www.alternet.org/trump-sues-business-partners/

Trump's lawsuit in Florida comes after Litinsky and Moss filed their own lawsuit against the former president in Delaware Chancery Court in February. The two investors accused Trump of orchestrating a scheme to "drastically dilute" the value of TMTG's shares in what they referred to as "11th hour, pre-merger corporate maneuvering." While Trump initially had control of 90% of the company and had 78 million shares in the company, his business partners alleged that he tried to inflate the number of shares to one billion, which would have reduced their stake to less than 1% of the company.

"[Litinsky and Moss' company was] promised 8.6 percent of this company and sadly its business partners are baselessly trying to renege," attorney, Christopher J. Clark told the Washington Post in February. "They feel like: We made Truth Social for you. You get 90 percent. But some people just aren’t happy with 90 percent."

Trump's business partners alleged that the former president's schemed to artificially create new shares to possibly then give to himself and his family members. Prior to going public last week, the SPAC that facilitated TMTG's merger told the Securities and Exchange Commission that the pending litigation could "negatively impact investor confidence and market perception."

According to Bloomberg, the fact that Trump filed a lawsuit in Florida rather than countersuing Litinsky and Moss in Delaware angered chancery court Judge Sam Glasscock III, who may sanction Trump over the suit. Glasscock was reportedly "gobsmacked" at learning of the former president pursuing separate litigation outside of his courtroom.

TFG believes that normal rules do not apply to him. This Delaware Chancery Court Judge will teach TFG lesson.

[SleeplessinSoCal]

28. He's a Sociopath who is getting sicker by the day.

But he's the master con man. And like PT Barnum said "there's a sucker born every minute". These guys should have seen this coming. Probably did. They were apparently contestants on his TV reality show. Rename the darn thing to "Con Job Master Class".