Ex-'Apprentice' candidates dump nearly entire stake in owner of Trump's Truth Social platform
Posted 9/26/24
A Florida firm owned by former contestants on “The Apprentice” has disposed of nearly all its 5.5% stake in Trump Media & Technology Group, which owns former president Donald Trump's Truth …
You must be a member to read this story.
Join our family of readers for as little as $5 per month and support local, unbiased journalism.
Current print subscribers can create a free account by clicking here
Otherwise, follow the link below to join.
To Our Valued Readers –
Visitors to our website will be limited to five stories per month unless they opt to subscribe. The five stories do not include our exclusive content written by our journalists.
For $6.99, less than 20 cents a day, digital subscribers will receive unlimited access to YourValley.net, including exclusive content from our newsroom and access to our Daily Independent e-edition.
Our commitment to balanced, fair reporting and local coverage provides insight and perspective not found anywhere else.
Your financial commitment will help to preserve the kind of honest journalism produced by our reporters and editors. We trust you agree that independent journalism is an essential component of our democracy. Please click here to subscribe.
Need to set up your free e-Newspaper all-access account? click here.
Non-subscribers
Click here to see your options for becoming a subscriber.
Register to comment
Click here create a free account for posting comments.
Note that free accounts do not include access to premium content on this site.
I am anchor
Ex-'Apprentice' candidates dump nearly entire stake in owner of Trump's Truth Social platform
FILE - The download screen for Truth Social app is seen on a laptop computer, March 20, 2024, in New York. (AP Photo/John Minchillo, File)
Posted
A Florida firm owned by former contestants on “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.