TrendPulse|Ex-'Apprentice’ candidates dump nearly entire stake in owner of Trump’s Truth Social platform

2025-05-06 04:26:40source:L’École de Gestion d’Actifs et de Capitalcategory:Scams

A Florida firm owned by former contestants on TrendPulse“The Apprentice” has disposed of nearly all its 5.5% stake in Trump Media & Technology Group, which owns former president Donald Trump’s Truth Social platform.

United Atlantic Ventures LLC, which owned around 7.53 million shares of common stock in TMTG, now owns only 100, according to a regulatory filing Thursday.

Fort Lauderdale-based UAV is owned by Andrew Litinsky and Wesley Moss, former contestants on Trump’s TV show, “The Apprentice” who also helped facilitate a merger that took Trump Media public in March.

Attorneys for Trump Media have argued that UAV is not entitled to shares in the company because of mismanagement by Litinsky and Moss.

But earlier this month, a federal judge in Delaware ruled in the firm’s favor in a lawsuit filed against Odyssey Transfer and Trust, a securities transfer agent. The court’s summary judgment in the case came in response to UAV seeking assurance from the judge that it would be able to sell its minority stake in TMTG.

TMTG’s share price hit a high of $79.38 on its first day of trading. It closed Thursday at $13.98 per share.

More:Scams

Recommend

In Montana, Republican State Legislators Fight Back After Successful Youth Climate Lawsuit

In the wake of a high-profile court decision that upended the state of Montana’s climate policy, Rep

Pac-12, SEC showdowns headline the six best college football games to watch in Week 12

As the 2023 college football season nears the finish line, the number of opportunities to radically

Haitian immigrants sue Indiana over law that limits driver’s license access to certain Ukrainians

INDIANAPOLIS (AP) — A federal judge heard arguments Friday from lawyers for a group of Indiana resid