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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.
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