Trump Media & Technology Group and its merger partner, Digital World Acquisition,
have both been rocked by legal warfare.
Their leaders, past and present, have traded heated accusations of #deception and #impropriety acrossfour lawsuits in three states.
After Trump was booted from Twitter following the Jan. 6, 2021, insurrection, three men played pivotal roles in building and promoting Trump Media as an online challenger against the “cancel culture” of Big Tech:
#Andy #Litinsky and
#Wes #Moss, former “Apprentice” contestants who co-founded and launched Truth Social;
and #Patrick #Orlando, who as chief executive of Digital World, a special purpose acquisition company, or SPAC, offered Trump’s company a path to investor cash.
But all three are now leading a rebellion of their own, confronting and potentially imperiling a trophy of Trump’s post-presidential ambitions.
Their lawsuits call into question how Trump Media’s shares will be distributed, and a legal victory could chip away at Trump’s equity during a time when he is facing a cash crunch.
And the cases threaten to erode Trump’s grasp on a stake in the post-merger company potentially worth hundreds of millions of dollars
— a possible financial lifeline, given that he owes more than $500 million in legal fines.
https://www.washingtonpost.com/technology/2024/03/21/truth-social-trump-merger-lawsuits/