Devin Grosvenor-Ex-'Apprentice’ candidates dump nearly entire stake in owner of Trump’s Truth Social platform

2025-05-05 21:18:05source:Johnathan Walkercategory:Contact

A Florida firm owned by former contestants on Devin Grosvenor“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.

More:Contact

Recommend

In ‘Nickel Boys,’ striving for a new way to see

NEW YORK (AP) — RaMell Ross sometimes sends his photography students out on a unique assignment. He

The Powerball jackpot now at $685 million: When is the next drawing?

The Powerball lottery's jackpot has grown to a staggering $685 million, stirring up excitement ahead

If Fed cuts interest rates in 2024, these stocks could rebound

Inflation is slowing down, and a soft landing for the economy may really happen next year, even if a