It may soon become easier to keep track of the people and entities that Donald Trump is not involved in litigation with, or is personally at war with, than the ones that he is. Right now he’s running a one man battle against everything from the swamp to the founders of his own social media platform — not to mention CNN, ABC News, two civil case appeals, his hush money trial starting in 13 days and the three other criminal cases which haven’t been set for trial yet. Today Trump filed a countersuit against Andy Litinsky and Wes Moss. These are the two entrepreneurs that showed up at Mar-a-Lago after Trump lost the 2020 election and hatched the notion of Truth Social. Trump also names Patrick Orlando, who ran Truth Social for a while.

If you hit the above link to the lawsuit you’ll see that Trump is alleging that these principals are not entitled to their cut of Truth Social because everything bad that ever happened was directly traceable to them. NBC News:

In papers filed last week in Florida state court, Trump Media & Technology Group Corp. argued that executives Wes Moss and Andy Litinsky made a series of costly mistakes that resulted in a long delay in the company’s going public and urged a judge to strip them of their shares in the company.

The pair, who were contestants on Trump’s NBC show “The Apprentice,” had pitched him on the idea of Truth Social after he was banned from what was then known as Twitter following the Jan. 6, 2021, attack on the Capitol.

“This was a phenomenal opportunity for Moss and Litinsky,” the suit says, adding that they were both “riding President Trump’s coattails.”

“Without President Trump, Truth Social would have been impossible,” the filing said.

The lawsuit, first reported by Bloomberg, said Moss and Litinsky were tasked with establishing corporate governance for the new company and finding a special purpose acquisition company that could take the new company public and fuel it with cash. It claimed they failed at both tasks. […]

Moss and Litinsky sued Trump’s company in Delaware Chancery Court in February, alleging that he was trying to dilute their shares by increasing the total number of authorized shares in the firm from 120 million to 1 billion.

Trump Media shares started trading March 26, and at one point the stock price exceeded $79. It has since fallen, closing at $51.60 on Tuesday. The decline came after the company reported a net loss of $58.2 million on revenue of $4.1 million in 2023.

Truth Social is in the seesaw phase that meme stocks go through. You won’t find an expert out there who thinks that Truth Social is suddenly going to rally and give Facebook and Twitter/X a long haul run for the money and become a blue chip stock. Not when Truth Social’s own accountant is talking about closing the doors.

All I can say to the entrepreneurs on the other side of Trump’s lawsuit is go read Rick Wilson’s book, Everything Trump Touches Dies. That and think about cutting your losses and moving on. It always ends this way for people who do business with Mango Mussolini. The sad fact of the matter is that you lost the minute you even shook Trump’s hand and agreed to do business with him on any level.

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3 COMMENTS

  1. Strip owners of their shares of stock? Are you f*cking kidding me? what kind of moron thinks that can be done? ….oh, yeah, that kind of moron.

    If these two guys were tasked with establishing a corporation and finding a SPAC, they certainly did both of those things. It is with great certainty that I say trump is completely unable to do either of the things Moss and Litinsky did to make t.s. a corporate concern as well as doing the SPAC thing.

    I do have concede dingle berry is probably correct about one thing: without the dingle berry, t.s., as it is today (i.e. a megaphone for mango moron’s hate speech), would certainly be different. The name Truth Social might have been a fitting name for it.

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