Former President Trump Scheduled for Deposition in Lawsuit Against Trump Media & Technology Group

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ICARO Media Group
Politics
07/04/2024 23h18

In a developing legal battle, former President Donald Trump has been scheduled for a deposition on April 15th. This deposition pertains to a lawsuit filed by two co-founders of Trump Media & Technology Group, the company that owns the Truth Social app.

The lawsuit was filed by Litinsky and Moss, who were former contestants on "The Apprentice." According to the suit, Litinsky and Moss pitched the idea of Truth Social to Trump in 2021 and reached an agreement that the former president would own 90% of the company, with the remaining 10% split between the two co-founders. However, they claim that Trump attempted to significantly dilute their shares before the company went public in March, resulting in them owning only 8.6% of the company.

In response to the lawsuit, Trump Media & Technology Group has filed a counter lawsuit against Litinsky and Moss, seeking to eliminate their remaining shares. The counter suit alleges that Litinsky and Moss made a series of reckless decisions that caused damage to the company and a decline in the stock price of its merger partner. It also accuses the co-founders of attempting to sabotage the deal between Trump Media and Digital World Acquisition Corp after their own plans to take the company public fell through.

This deposition comes at a critical time for Trump, as it coincides with the start of his criminal trial for alleged hush money payments to adult film star Stormy Daniels in New York. Trump has previously been deposed in several other civil cases, including the lawsuit brought by writer E. Jean Carroll, where he was found liable for sexually abusing her and ordered to pay $5 million in damages. Additionally, Trump was deposed in the civil case brought by New York Attorney General Letitia James, where he was found liable for fraudulently inflating the value of his assets and ordered to pay $557 million.

The deposition on April 15th will provide further insight into the allegations made by Litinsky and Moss against Trump Media & Technology Group. As the legal proceedings continue to unfold, it remains to be seen how these lawsuits will impact the former president and his business ventures.

The views expressed in this article do not reflect the opinion of ICARO, or any of its affiliates.

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