President
A Delaware Chancery Court judge threw out the lawsuit, rejecting the claim that Trump and his business allies diluted Andy Litinsky and Wesley Moss in the Truth Social deal, then retaliated against them by locking up their shares. But the judge tossed the case on routine corporate law grounds, saying there was no need to decide the novel presidential immunity issues Trump raised after winning his second term.
The claims by United Atlantic Ventures LLC, an affiliate of Litinsky and Moss, “boil down to conspiracy theories unsupported by factual allegations,” Vice Chancellor Lori W. Will said in a 57-page opinion. “None of UAV’s claims survive. I therefore decline to address the issue of presidential immunity.”
The other Trump Media & Technology Group Corp. board members named as defendants included Donald Trump Jr., FBI director Kash Patel, Trump aide Dan Scavino, and former GOP congressman Devin Nunes, the company’s CEO.
Although Tuesday’s ruling dismissed most of the case with prejudice—its claims targeting the Trump Media stock lockup—the judge did toss two claims without prejudice, saying she would defer to a parallel lawsuit the company brought in Florida over a separate services agreement. Those portions of the case could technically be refiled at some point.
“The Florida court has a strong interest in resolving a dispute between parties with their principal places of business in Florida that involves issues of Florida law about a contract for services to be performed in Florida,” Will wrote.
President Trump and Scavino are represented by Halloran Farkas & Kittila LLP. Trump Media and its other corporate leaders are represented by DLA Piper LLP. United Atlantic is represented by Berger McDermott LLP and Clark Smith Villazor LLP.
The case is United Atl. Ventures LLC v. TMTG Sub Inc., Del. Ch., No. 2024-0184, 9/2/25.
(Updates with additional reporting throughout.)
To contact the reporter on this story:
To contact the editor responsible for this story: