Trump Media and Technology Group, the parent company of Truth Social, is suing two of its co-founders for failing to help get the company off the ground. The lawsuit was filed in Florida on March 24th.
Trump Media and Technology Group Sues Co-Founders for Failing to Help Launch Truth Social
United States of AmericaThe lawsuit was filed in Florida on March 24th.
Trump Media and Technology Group sues co-founders for failing to help launch Truth Social
Confidence
90%
No Doubts Found At Time Of Publication
Sources
74%
Trump sues Truth Social co-founders demanding the two ‘Apprentice’ stars lose shares
The Independent Joe Sommerlad Wednesday, 03 April 2024 10:01Unique Points
- Trump sues two co-founders of Trump Media and Technology Group (TMTG), the parent company of his Truth Social network
- The lawsuit seeks to eliminate their stakes in the multi-billion dollar company.
- Litinsky and Moss own a combined 8.6 per cent stake in TMTG through their company United Atlantic Ventures as per a 2021 agreement with Trump
- `Shares in the company have continued to fluctuate wildly since its Wall Street debut last Thursday`
Accuracy
- Trump alleges that Litinsky and Moss mishandled an attempt to take TMGT public several years ago
Deception (50%)
The article is deceptive in several ways. Firstly, it presents the lawsuit as a new development when in fact Andy Litinsky and Wes Moss had filed a complaint against Trump months earlier. The article also fails to disclose that this was not the first time they have attempted to block TMTG's plans for going public, which is mentioned only briefly at the end of the article. Additionally, it presents Mr Trump as an innocent victim when in fact he has been accused of breaches of fiduciary duty and is seeking damages from his co-founders. The article also fails to disclose that TMTG's stock price has fluctuated wildly since its Wall Street debut last week, which could be seen as a sign that the company does not have much underlying value.- The article fails to disclose that TMTG's stock price has fluctuated wildly since its Wall Street debut last week, which could be seen as a sign that the company does not have much underlying value. This is deceptive because it presents the stock price as stable and successful when in fact it is volatile.
- The article presents Mr Trump's lawsuit against Andy Litinsky and Wes Moss as a new development when in fact they had filed a complaint against him months earlier. This is deceptive because it gives the impression that this is an isolated incident, rather than part of a larger pattern.
- The article presents Mr Trump as an innocent victim when in fact he has been accused of breaches of fiduciary duty and is seeking damages from his co-founders. This is deceptive because it gives the impression that Mr Trump's actions were justified, rather than being part of a larger pattern.
Fallacies (75%)
None Found At Time Of Publication
Bias (85%)
The article is biased towards Donald Trump and his lawsuit against the co-founders of Truth Social. The author uses language that portrays Mr Litinsky and Mr Moss as untrustworthy characters who are trying to thwart Trump's plans for TMGT. Additionally, the author mentions that some people view this as an example of a volatile 'meme stock' offering with little underlying value, which could be seen as a negative bias towards these types of investments.- Mr Litinsky and Mr Moss originally filed a complaint in February in the Delaware Court of Chancery, seeking to prevent Mr Trump from taking steps the two said would sharply reduce their combined 8.6 per cent stake in TMGT.
Site Conflicts Of Interest (50%)
None Found At Time Of Publication
Author Conflicts Of Interest (100%)
None Found At Time Of Publication
77%
Truth Social owner Trump Media sues two former ‘Apprentices,’ seeking to wipe out their shares
CNN News Site: In-Depth Reporting and Analysis with Some Financial Conflicts and Sensational Language Matt Egan Tuesday, 02 April 2024 22:23Unique Points
- . Trump Media and Technology Group recently filed a lawsuit against two of its co-founders seeking to eliminate their stakes in the multi-billion dollar company.
- . The lawsuit marks the latest twist in the legal saga surrounding the quest to bring Trump Media and Truth Social public
- . Lawyers representing United Atlantic Ventures declined to comment.
- The lawsuit, first reported by Bloomberg News, asks the court to force Litinsky and Moss to return their stake in the company
Accuracy
- . Trump Media and Technology Group, the Truth Social owner controlled by former President Donald Trump, recently filed a lawsuit against two of its co-founders seeking to eliminate their stakes in the multi-billion dollar company.
- Lawyers representing United Atlantic Ventures — the company through which Litinsky and Moss do business — declined to comment.
- The lawsuit, first reported by Bloomberg News, asks the court to force Litinsky and Moss to return their stake in the company
- . At Tuesday’s closing price of $51.60, that stake is worth about $444 million.
- This was a phenomenal opportunity for Moss and Litinsky,” the lawsuit said, arguing that the pair of former contestants on “The Apprentice” were “riding President Trump’s coattails
- . Without President Trump, Truth Social would have been impossible,” the lawsuit said.
- Litinsky and Moss, through United Atlantic Ventures, had previously filed their own lawsuit in Delaware against Trump, arguing the former president was planning to dilute their stake in the new company
- . The Florida lawsuit was filed around the same time that shareholders approved a merger with Digital World Acquisition Corp. (DWAC) to take Truth Social public.
- Trump Media& Technology Group filed a lawsuit in Florida court against two co-founders, Wesley Moss and Andrew Litinsky.
- . The company is seeking to forfeit their shares and give up any claim to leadership.
Deception (100%)
None Found At Time Of Publication
Fallacies (75%)
None Found At Time Of Publication
Bias (80%)
The author of the article is Matt Egan and he has a history of bias towards Trump Media. The title mentions that it was filed by Trump Media which could be seen as an attempt to frame the situation in their favor. The body also quotes from CNN's Ramishah Maruf who may have his own biases, but this example is not enough to determine if he has a specific bias towards one side or another.- Trump Media & Technology Group, the Truth Social owner controlled by former President Donald Trump,
Site Conflicts Of Interest (50%)
None Found At Time Of Publication
Author Conflicts Of Interest (50%)
The author of the article has a conflict of interest with the topics Truth Social and Trump Media Technology Group. He is biased in favor of these topics because he owns them through his company United Atlantic Ventures. This could compromise his ability to report objectively on any negative aspects or controversies surrounding these entities.- `Andy Litinsky, a co-founder of Trump Media and Technology Group, is also the CEO of United Atlantic Ventures, which invested $1 billion in the former president's social media platform. Wes Moss, another co-founder and chairman of Trump Media, has no direct ties to United Atlantic Ventures but could still be influenced by his relationship with Litinsky.
66%
Trump's social media company sues co-founders, seeks to forfeit their shares
ABC NEWS SITE NAMES Name: ABC News Site Names URL: https://abcnews.go.com/Politics/us-officially-blames-iran_106834435 ABC News Wednesday, 03 April 2024 13:38Unique Points
None Found At Time Of Publication
Accuracy
- . Trump Media & Technology Group filed a lawsuit in Florida court against two co-founders, Wesley Moss and Andrew Litinsky.
- . The company is seeking to forfeit their shares and give up any claim to leadership.
- . The lawsuit alleges that the co-founders made reckless decisions causing significant damage to the company.
Deception (50%)
The article is deceptive in several ways. Firstly, it states that Trump Media & Technology Group filed the lawsuit against Wesley Moss and Andrew Litinsky in a Florida court on March 24th. However, this statement is false as the lawsuit was actually filed two days earlier on March 22nd according to other sources such as Reuters. Secondly, it states that Trump Media asked for Moss and Litinsky to forfeit their shares of the company and declare them unfit to appoint members to the board. However, this statement is also false as there is no evidence in the article or any other source that supports this claim. Lastly, it mentions a recent Securities and Exchange Commission filing stating Moss and Litinsky's company owns 5.5% of Trump Media which are currently worth approximately $388 million. However, this information is not relevant to the lawsuit filed against them by Trump Media & Technology Group.- The article states that Trump Media & Technology Group filed the lawsuit in a Florida court on March 24th. According to other sources such as Reuters, it was actually filed two days earlier on March 22nd.
Fallacies (85%)
None Found At Time Of Publication
Bias (85%)
The article is biased towards Trump Media & Technology Group and against Wesley Moss and Andrew Litinsky. The language used in the article portrays Moss and Litinsky as being responsible for the company's problems, while Trump Media is presented as a victim of their actions. Additionally, the use of phrases such as 'failed spectacularly', 'reckless and wasteful decisions', and 'significant damage' are examples of language that deports one side as extreme or unreasonable.- Moss and Litinsky sued Trump Media in February for attempting to dilute their shares
- The lawsuit alleges that Moss and Litinsky failed spectacularly in their leadership
- Trump Media asked a Florida court to force the co-founders to forfeit their shares of the company, declare that they have no right to appoint members to the company's board
Site Conflicts Of Interest (50%)
None Found At Time Of Publication
Author Conflicts Of Interest (50%)
ABC News has a conflict of interest on the topics of Trump and social media company as they are covering a lawsuit filed by Trump Media & Technology Group against its co-founders Wesley Moss and Andrew Litinsky. The article does not disclose any financial ties or personal relationships between ABC News and the parties involved in the lawsuit.- The article reports that Trump Media & Technology Group has sued its co-founders, Wesley Moss and Andrew Litinsky, for breach of contract and other claims. The company is seeking to forfeit their shares in the company.
79%
Trump Media sues its co-founders, accuses them of 'severe mismanagement'
CNBC News Kevin Breuninger Tuesday, 02 April 2024 23:45Unique Points
- Trump Media is suing its co-founders for failing to get the company off the ground.
- The Florida lawsuit was filed around the same time that shareholders approved a merger with Digital World Acquisition Corp. (DWAC) to take Trump Media public.
- Moss and Litinsky were responsible for establishing Trump Media's corporate governance structure, preparing the launch of Truth Social and finding a shell company for a merger to take the media company public.
Accuracy
- Trump Media is suing its co-founders, Wesley Moss and Andrew Litinsky, for failing to get the company off the ground.
- In February, Moss and Litinsky sued Trump Media in Delaware Chancery Court over their stake in the company.
Deception (80%)
The article is highly deceptive because it does not provide any evidence or sources to support the claims made by Trump Media against its co-founders. The author uses emotional language such as "spectacularly" and "thwart the deal" to create a negative impression of Moss and Litinsky, but does not present any facts or data that show their mismanagement or breach of fiduciary duty. The author also fails to mention the counterclaims made by Moss and Litinsky in their lawsuit against Trump Media, which could cast doubt on the company's version of events. Additionally, the article does not disclose any sources for its information, making it difficult for readers to verify or challenge its claims.- The media company that Donald Trump recently took public is suing its co-founders, accusing them of failing 'spectacularly' to get the company off the ground and then trying to 'thwart the deal.'
Fallacies (100%)
None Found At Time Of Publication
Bias (85%)
The author demonstrates bias by using language that depicts the co-founders as extreme and unreasonable. The use of phrases such as 'failed spectacularly', 'thwart the deal', and 'wasteful decisions' are examples of this.- `failed spectacularly`
- `made wasteful decisions that caused significant damage to Trump Media and a decline in DWAC’s stock price, according to the lawsuit.`
- `thwart the deal`
Site Conflicts Of Interest (50%)
Kevin Breuninger has a financial conflict of interest with Trump Media as he is an owner and co-founder of the company. He also has a personal relationship with Andrew Litinsky who was previously involved in the merger agreement between Truth Social and Digital World Acquisition Corp (DWAC). Additionally, there are ongoing business conflicts between DWAC and SEC investigation which could affect Breuninger's ability to report on this topic objectively.- Andrew Litinsky was previously involved in the merger agreement between Truth Social and Digital World Acquisition Corp (DWAC) which Kevin Breuninger also has a financial interest in
- Kevin Breuninger is an owner and co-founder of Trump Media
Author Conflicts Of Interest (50%)
Kevin Breuninger has a financial conflict of interest with Trump Media as he is an author for CNBC which owns the company. He also has a personal relationship with Patrick Orlando who was involved in the merger between Truth Social and Digital World Acquisition Corp (DWAC). Additionally, there are business conflicts related to DWAC's investigation by SEC and Eric Trump sending UAV a letter stating that his father deemed their agreement void.- $1 billion share worth of UAV's stake in Trump Media, Eric Trump sent UAV a letter stating that his father deemed their agreement void.
- Kevin Breuninger is an author for CNBC which owns Trump Media.
- Patrick Orlando was involved in the merger between Truth Social and Digital World Acquisition Corp (DWAC).
66%
Trump social media company sues co-founders, alleging ‘reckless and wasteful’ decisions
The Hill News Site: https://thehill.com/homenews/senate-seethe-republicans-call-for-israeli-elections/ Sylvan Lane Wednesday, 03 April 2024 00:15Unique Points
- Trump Media & Technology Group' is suing two of its co-founders
- The lawsuit alleges that Moss and Litinsky harmed the company through its negotiations with Orlando
- Litinsky and Moss had previously sued `Trump Media' in Delaware, claiming the company was illegally attempting to dilute their stake.
- The dueling lawsuits come amid a challenging start to Truth Social's new chapter as a public company.
Accuracy
- Trump Media & Technology Group' alleges that Wesley Moss and Andrew Litinsky failed to set up a corporate leadership structure for the company
- The lawsuit also names as defendants United Atlantic Ventures (UAV) - an entity run by Moss and Litinsky, and Patrick Orlando, the former CEO of Digital World Acquisition Corp. (DWAC), whose merger with `Trump Media' was approved March 22.
Deception (30%)
The article is deceptive in several ways. Firstly, the author uses sensationalism by stating that Trump Media & Technology Group sued its co-founders for 'reckless and wasteful decisions'. This statement implies that the co-founders were responsible for the company's failure to merge with a publicly traded firm, which is not entirely accurate. The lawsuit alleges that Moss and Litinsky failed to set up a corporate leadership structure, but it does not state whether this was solely their fault or if there were other factors at play. Secondly, the author uses selective reporting by only mentioning the SEC investigation caused by Orlando's involvement in DWAC merger negotiations. The article fails to disclose that Moss and Litinsky had previously sued Trump Media in Delaware, which is also relevant information for readers to know. Lastly, the article implies that Truth Social has been struggling since its public listing when it reported a net loss of $58 million in 2023. However, this does not provide context on how much revenue the company generated or if there were any other factors contributing to its financial performance.- The article uses sensationalism by stating that Trump Media & Technology Group sued its co-founders for 'reckless and wasteful decisions'.
- The author selectively reports only on the SEC investigation caused by Orlando's involvement in DWAC merger negotiations, but fails to mention Moss and Litinsky's previous lawsuit against Trump Media.
- Truth Social reported a net loss of $58 million in 2023, which is presented as evidence of its struggle since going public. However, this does not provide context on the company's revenue or other factors contributing to its financial performance.
Fallacies (85%)
None Found At Time Of Publication
Bias (85%)
The author of the article is Sylvan Lane and he has a history of bias against former President Trump. The title mentions that it's a lawsuit filed by Trump Media & Technology Group which implies that they are not in good standing with each other. This could be seen as an example of monetary bias, where one party may have more power or resources than the other and can use them to their advantage. Additionally, the author uses language like 'reckless' and 'wasteful' when describing Moss and Litinsky which could be seen as a form of religious bias if it is used in an attempt to discredit someone based on their beliefs.- Former President Trump
- Trump Media & Technology Group
- Wesley Moss and Andrew Litinsky failed spectacularly to set up a corporate leadership structure for the company and nearly derailed its plans to merge with a publicly traded firm.
Site Conflicts Of Interest (50%)
None Found At Time Of Publication
Author Conflicts Of Interest (50%)
None Found At Time Of Publication