Trump sued the co-founders of Truth Social. The former president assured that Wes Moss and Andy Litinsky mismanaged the platform from the beginning and that for this reason they should not have shares in the social network.
The lawsuit, filed March 24 by Trump Media & Technology Group Corp. in a Florida state court, claims that the two co-founders of Truth Social committed major failures by delaying the IPO of the social network: "This was a phenomenal opportunity for Moss and Litinsky," can be read in the court documents to which The Guardian obtained access.
The lawsuit states that both were "riding President Trump's coattails. ... Without President Trump, Truth Social would have been impossible," states the court document, which ensures that the functions of both co-founders were simple:
All [they] needed to do was diligently, faithfully and loyally execute on a short-term plan: get TMTG’s corporate governance established, get Truth Social ready to launch, and find a suitable special purpose acquisition company to take the new company public and access capital to advance TMTG’s business plan.
Moss and Litinsky delayed Truth Social's IPO for more than a year and a half
However, as the court documents explain, Wes Moss and Andy Litinsky not only failed to fulfill their mission, but they "failed spectacularly at every turn" in the creation of Trump Media since they not only failed to establish corporate governance, but they also made "a series of reckless and wasteful decisions" that delayed merger plans between Digital World Acquisition Corp. and Trump Media & Technology Group for more than a year and a half.
Moss and Litinsky met in 2004 while filming "The Apprentice," a show Trump made that aired on NBC. Years later, they appeared with an idea for the former president: to set up his own social network. They did so after Donald Trump was kicked off of Twitter following the events of Jan. 6, 2021. Thus, Truth Social was born, though, after allegedly mismanaging the platform, they have been sued.
