Former President Donald Trump’s social media company is facing a lawsuit by its two co-founders, who claimed to be targeted by a scheme to “drastically dilute” their company shares that could be worth hundreds of millions of dollars.
The new legal challenge is tied to a much anticipated merger that would make Trump Media & Technology Group, the owner of Truth Social, a publicly traded company. The stock price of Digital World Acquisition, a shell company created for the sole purpose of acquiring Trump Media and take it public, has soared by a whopping 136 percent since the beginning of this year.
