"Trump Media Co-Founders Sue Company in Delaware's Chancery Court"

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Source: The News Journal
"Trump Media Co-Founders Sue Company in Delaware's Chancery Court"
Photo: The News Journal
TL;DR Summary

The founders of Truth Social, a social media platform associated with Donald Trump, have sued the company in Delaware's Court of Chancery, alleging that Trump and his associates at Trump Media & Technology Group Corp. tried to cheat them out of the value of their shares in the company. The lawsuit claims that Trump and his associates attempted to dilute the value of the co-founders' shares by issuing a large number of new shares, potentially impacting their equity share from 8.6 percent to less than 1 percent. The lawsuit seeks an expedited court hearing to address these allegations.

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