Donald Trump won’t be deposed on Monday after all in the case filed against him by two co-founders of his social-media startup, Bloomberg reports, citing a person familiar with the matter. This resolves questions over a potentially significant conflict with the start of the former president’s first criminal trial.
Trump Media & Technology Group Corp.’s co-founders Andy Litinsky and Wes Moss, who sued Trump for allegedly trying to dilute their 8.6% stake, will still seek to depose the former president at another time, said the person, who didn’t want to be identified discussing the plan before it’s public.
Trump, in turn, has sued the two co-founders, claiming they set the company up improperly and shouldn’t get any stock in it.
In the latest legal skirmish over who gets how much of the hot but flailing meme stock, Trump alleges that Litinsky and Moss violated an agreement about the setup and don’t deserve their 8.6% stake, currently valued at $606 million.
Jury selection is due to begin April 15 in Trump’s criminal trial involving hush-money payments to an adult film performer ahead of the 2016 election, allegedly to cover up an affair and protect his first presidential campaign. The case centers on alleged violations of campaign finance laws. Trump has pleaded not guilty.
After topping out at $79.38 in its Nasdaq debut last month, Trump Media shares fell below $30 at the open today, later rebounding to $31.64 in late morning trading. Read more.
