Trump countersues Truth Social stakeholders for their $600 million stake: report

The Truth Social lawsuits are flying, according to a new report and court records.

The social media's dramatic week — which saw stock prices rocket more than 40 percent upon their public debut only to go into free-fall days later — was capped off Tuesday with reports that former President Donald Trump is counter-suing two co-founders.

Bloomberg Law reports Trump accuses the pair of "bungling their duties" and "forfeiting their stock."

Trump reportedly argues Andy Litinsky and Wes Moss aren't entitled to their 8.6% stake (worth about $606 million based on current valuations) in the papers filed in Florida state court on March 24, according to the report.

"[Trump Media] has been forced to file this action to remedy the harm inflicted upon it by two faithless fiduciaries and a company they own," the lawsuit reads, "and to halt their ongoing attempts to do even more damage."

The document is an answer to Litinsky and Moss' original lawsuit, who accuse the company of scheming to lock them out of a stake in the company.

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The dueling lawsuits arrive as Trump Media merged with a special purpose acquisition group, began trading publicly then saw stock prices rise and fall, the report notes.

The stock dropped 21 percent Monday after Trump Media disclosed a $58 million loss in 2023, multiple reports show.

Trump also filed suit amid financial woes that include legal fees linked to civil and criminal cases and dwindling campaign coffers.

The former president has been ordered to pay $83.3 million to E Jean Carroll in her second defamation case and $464 million in his civil fraud case.

Trump has denied wrongdoing and is pursuing appeals.

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