Trump Media settles legal dispute with firm’s co-founders

Trump Media It said Tuesday that it had reached an “amicable resolution” to a legal dispute with the co-founders of the social media company that operates the Truth Social app.

Trump Media did not provide details of this deal with United Atlantic Ventures, a partnership of Trump Media co-founders Andy Litinsky and Wes Moss.

Litinksy and Moss were contestants on President Donald Trump’s television show “The Apprentice.”

UAV sued Trump Media in Delaware Chancery Court in February 2024, accusing Trump of trying to “substantially dilute” the value of the stock held by co-founders in the company.

The men first pitched the idea to Trump to start Trump Media in February 2021, a few weeks after Trump left the White House at the end of his first term.

CNBC requested comment from Trump Media, the company’s attorney and attorney for United Atlantic Ventures.

Trump Media’s shares trade on NASDAQ under the ticker symbol DJT.

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