A federal judge in Delaware has ruled in favor of a company lookingfor guarantee that it will be able to sell its minority stake in the momsanddad business of previous president Donald Trump’s Truth Social platform
ByRANDALL CHASE AP service author
September 6, 2024, 7: 38 PM
DOVER, Del. — A federal judge in Delaware has ruled in favor of a company lookingfor guarantee that it will be able to sell its minority stake in the momsanddad business of previous president Donald Trump’s Truth Social platform.
The judge on Friday given summary judgment to Florida-based United Atlantic Ventures LLC in a suit submitted versus Minnesota-based Odyssey Transfer and Trust Co., a organization that dealswith securities transfers amongst signedup investors.
UAV is owned by Andrew Litinsky and Wesley Moss, previous candidates on Trump’s TELEVISION program, “The Apprentice” who likewise assisted helpwith a merger that took Trump Media public in March.
Since then, UAV and Trump Media haveactually been fighting in courts in both Delaware and Florida over UAV’s stake in the business. Attorneys for Trump Media guaranteed a state judge in Delaware earlier this year that UAV was entitled to an 8.6% stake and would suffer no merger-related dilution. They now compete, nevertheless, that UAV is not entitled to its shares since of pre-merger mismanagement by Litins