Donald Trump Faces Deposition in Newest Lawsuit

Amidst legal battles, Trump Media's market performance sparks debate.

by Zain ul Abedin
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Donald Trump Faces Deposition in Newest Lawsuit
© Scott Olson/Getty Images

In a twist that ties the worlds of politics, media, and legal disputes into one, former President Donald Trump finds himself at the center of a courtroom drama once again. This month, Trump will undergo a deposition by attorneys representing the co-founders of Trump Media & Technology Group, amidst a contentious battle over the ownership of the company.

Scheduled for April 15th, the deposition coincides with the start of jury selection for Trump's New York hush money trial, raising the possibility of scheduling conflicts that might necessitate a rescheduling of the deposition.

The core of the dispute lies in claims made by Andy Litinsky and Wes Moss, both of whom gained fame as contestants on "The Apprentice" during Trump's tenure as host. They allege that they were promised a substantial share of the company—8.6 percent of Trump Media's pre-merger stock.

However, they assert that Trump has since reneged on this promise, attempting to diminish their stake and block their ability to sell it. This legal battle follows a lawsuit filed by Trump in March, aiming to revoke their stock on the grounds of mismanagement.

Trump Media's Financial Fluctuations

Adding intrigue to this legal skirmish is the financial performance of Trump Media, especially after its recent merger with a public company—a move that has seen its stock values fluctuate amid heightened interest due to Trump's association.

Despite a recent downturn, the company's valuation exceeds $6 billion, a testament to the polarizing figure's enduring influence on public and financial sentiment. Yet, not all commentary on Trump Media has been favorable.

Barry Diller, Chairman of IAC and Expedia, lambasted the company on CNBC's "Squawk Box," denouncing it as a "scam" devoid of revenue and criticizing its stock buyers as misguided. Trump Media's response was swift and sharp, dismissing Diller's criticisms as the rantings of a "die-hard Trump hater" and defending its stance on free political expression.

This unfolding saga, blending legal drama with the volatile worlds of media and finance, underscores the complex legacy of Trump's entrepreneurial ventures. As the legal proceedings progress, the dispute over Trump Media & Technology Group promises to add another chapter to the controversial narrative surrounding the former president's business dealings.

Donald Trump
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