Key Points
(Bloomberg) -- Donald Trump has sued two co-founders of his newly public Trump Media & Technology Group Corp., claiming they set the company up improperly and shouldnt get any stock in it..
In the latest legal skirmish over who gets how much of the hot but flailing meme stock, Trump alleges that Andy Litinsky and Wes Moss violated an agreement about the setup and dont deserve their 8.6% stake, currently valued at $606 million..
The lawsuit, which was filed on March 24 in Florida state court and hasnt previously been reported, comes after the pair brought their own suit against the former president in Delaware Chancery Court over their promised stake in the the social media company..
Trump, the presumed Republican nominee in Novembers presidential election, has seen his net worth soar due to his Trump Media stake, which he could ultimately use to pay off hundreds of millions of dollars in legal judgments against him though he is currently unable to sell those shares for six months due to a lockup..
The Delaware judge, Sam Glasscock III, declined to fast-track Litinsky and Mosss suit after Trumps lawyers agreed to avoid lessening the value of their shares..
