07:41 AM EDT, 04/03/2024 (MT Newswires) -- Trump Media and Technology Group ( DJT ) is suing its cofounders and seeking to bar them from owning any shares of the company, according to a court filing.

The suit, filed late last month, accused co-founders Wesley Moss and Andrew Litinsky of mismanaging the company's emergence on the stock market and seeks to block them from appointing members to the company's board.

The two sued Trump Media ( DJT ) in February, claiming that a 2021 agreement that Trump signed guarantees them around a 9% share of Trump Media's ( DJT ) total stock, CNBC reported.

Trump Media's ( DJT ) lawsuit demands that Moss and Litinsky pay damages for making poor decisions.

Shares of the company were down more than 2% in Wednesday's premarket activity.

Price: 50.31, Change: -1.29, Percent Change: -2.5