trump media announced Tuesday that it has reached an “amicable settlement” in its legal dispute with the co-founders of the social media company behind the Truth Social app.
Trump Media has not disclosed details of its settlement with United Atlantic Ventures, a partnership between Trump Media co-founder Andy Litinski and Wes Moss.
Litinksey and Moss were cast members on President Donald Trump’s TV show “The Apprentice.”
UAV filed a lawsuit in Delaware Chancery Court in February 2024, accusing Trump Media of attempting to “significantly dilute” the value of the company’s co-founders’ stake. The lawsuit was dismissed in September, with a judge ruling that “it boils down to a conspiracy theory unsupported by factual allegations.”
They initially pitched the idea to founding Trump Media in February 2021, within weeks of Trump leaving the White House at the end of his first term.
CNBC has reached out to Trump Media, the company’s attorney and United Atlantic Ventures attorney, for comment.
Trump Media’s stock trades on the Nasdaq under the ticker DJT.
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