In a stunning turn of events, two cofounders of former President Donald Trump's media company, United Atlantic Ventures (UAV), have filed a lawsuit accusing executives, including Trump himself, of scheming to deprive them of valuable shares worth potentially hundreds of millions of dollars. Andy Litinsky and Wes Moss, who met Trump during their time as contestants on "The Apprentice," are claiming that the company engaged in manipulative corporate maneuvers to dilute their stake ahead of an imminent merger.

The lawsuit, obtained by The Washington Post, adds yet another layer of complexity to an upcoming shareholder vote on a long-pending merger. The proposed merger would involve Trump's company, the parent company of Truth Social, his social media network, joining forces with blank-check company Digital World Acquisition. However, Litinsky and Moss's legal action, among other lawsuits, could hinder the approval process for the merger.

Litinsky and Moss initially approached Trump in 2021 with a pitch for a media startup under the Trump brand, after the former president was banned from Twitter. The ensuing deal stipulated that Trump would hold a 90% stake in the company, while UAV would retain 8.6%, as reported by The Post. However, the recent lawsuit alleges that Trump and other company leaders sought to boost authorized stock levels from 120 million shares to a staggering 1 billion shares, a move that would drastically reduce Litinsky and Moss's stake to less than 1% before the merger.

According to a Securities and Exchange Commission filing by Digital World, Trump's share value after the merger would exceed $3 billion, based on Thursday's stock price, while UAV's stake would be worth nearly $300 million. Such a windfall would certainly be significant for Trump, who is currently grappling with legal expenses totaling more than $450 million.

The lawsuit also claims that the Trump Media board intended to grant additional shares to "Trump and/or his associates and children," including Trump's wife, Melania, according to The Post. In fact, the outlet previously reported that Trump had contacted Litinsky in October 2021, asking him to relinquish some of his shares to Melania. Litinsky declined the request.

Litinsky and Moss's departure from Trump Media occurred shortly after UAV launched the business amid a disagreement with company leaders. However, they retained their shares, as stated in the Digital World SEC filing.

The proposed merger between Trump Media and Digital World Acquisition Corp has faced numerous setbacks and delays over the last two years, with SEC investigations into potential securities violations being one contributing factor. As the final shareholder vote looms on March 22, the already complex merger faces additional complications due to mounting legal obstacles.

This lawsuit brings to light a contentious battle for control over the future of Trump's media empire, with significant financial stakes and legal ramifications hanging in the balance.