UPDATE On Truth Social Lawsuits, DWAC Co-Founder Makes Seismic Allegations

The Truth Social lawsuit took an unexpected turn this week as new allegations and developments took shape.

According to the latest reports, President Trump will not be deposed on Monday in the ongoing lawsuit against him by two Trump Media & Technology Group co-founders Andy Litinsky and Wes Moss.

President Trump’s legal team cited scheduling concerns, and the plaintiffs will seek to depose him at another time, yet to be determined.

WLTR previously reported that the former President filed a counter-lawsuit against the pair in late March claiming that they were at fault.

To complicate things even further, related allegations by one founding member of DWAC have made their way to the surface, but are the claims true? Here are the latest developments in the growing legal saga of Truth Social:

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 https://t.co/JXkXBWCJAP

— Bloomberg (@business) April 11, 2024

Two co-founders and former executives at Truth Social have amended a lawsuit as they seek the ability sell off their shares in Trump Media ahead of a six-month lockout that was placed on them. https://t.co/gssFtNVdie

— The Daily Beast (@thedailybeast) April 9, 2024

Bloomberg confirmed:

The person said the plan to depose the presumptive Republican nominee for the November presidential election changed because the Delaware judge handling the case, Sam Glasscock III, is retiring and will be replaced.

In a related, surprise turn of events, WIRED presented the claims made by one of the former, founding CEOs of DWAC against his former assistant.

The founding CEO of DWAC has accused his former assistant of hacking into his accounts as part of a “coup d'état,” the latest legal mess for Truth Social. https://t.co/L37mDucW7c

— WIRED (@WIRED) April 10, 2024

DJT’s stock is currently trading at $32.59, a sharp decline from it’s recent high around ~$80. Will the stock eventually be able to rebound and retrace the most recent high?

NBC News outlined the claims laid out in President Trump’s countersuit against Moss and Litinsky:

The lawsuit, first reported by Bloomberg, said Moss and Litinsky were tasked with establishing corporate governance for the new company and finding a special purpose acquisition company that could take the new company public and fuel it with cash.

It claimed they failed at both tasks.