DOVER, Del. — A federal judge in Delaware has ruled in favor of a firm seeking assurance that it will be able to sell its minority stake in the parent company of former president Donald Trump’s
UAV is owned by Andrew Litinsky and Wesley Moss, former contestants on Trump’s TV show, “The Apprentice” who also helped facilitate a merger thatin both Delaware and Florida over UAV’s stake in the company. Attorneys for Trump Media assured a state judge in Delaware earlier this year that UAV was entitled to an 8.6% stake and would suffer no merger-related dilution. They now contend, however, that UAV is not entitled to its shares because of pre-merger mismanagement by Litinsky and Moss.
After Odyssey filed a lawsuit, the parties appeared to have reached a resolution, with Odyssey saying it would remove transfer restrictions on the share after the lockup period expires “without preference to any TMTG shareholder.” After seeking approval from Trump Media, however, Odyssey tried to change that language to “on the same basis as other similarly situated TMTG shareholders.”U.S.