Trump SPAC deposition set for same day his criminal trial begins
Donald Trump is scheduled to be deposed on April 15 in one of the civil lawsuits stemming from the merger of his social media startup with a so-called blank check company, the same day the former president is set to appear in court for the start of his first criminal trial.
The deposition involves a February lawsuit by Andy Litinsky and Wes Moss, co-founders of Trump Media & Technology Group Corp., who sued Trump for allegedly trying to dilute their shares in the company. Notice of the deposition was filed April 3 in Delaware state court, where the suit is pending.
The planned deposition could conflict with the opening of Trump’s first criminal trial, over “hush money” payments to a porn star, which starts with jury selection on April 15 in Manhattan. The overlap of events are the latest indication that Trump’s array of legal troubles is leading to scheduling conflicts as he campaigns to return to the White House.
It’s unclear how Trump will juggle the calendar dispute. Trump is required to attend the criminal trial, though New York Supreme Court Judge Juan Merchan could allow him to miss part of the proceeding to attend a deposition. If the judge balks, Trump could be forced to skip the deposition.
Trump’s criminal defense lawyers Todd Blanche and Susan Necheles didn’t immediately return emails seeking comment nor did Bragg’s office. A spokesman for Merchan, who is presiding over Trump’s trial, also didn’t immediately return a call.
The deposition is intended to get Trump to answer questions under oath that can be used in a potential trial. The questioning will take place at the midtown Manhattan offices of Clark, Smith, Villazor LLP. Christopher Clark, a lawyer with the firm, didn’t immediately respond to a message seeking comment.
Trump Media fell for a third straight day on Friday, trading at $43.54 at 10:20 a.m. in New York. That’s a 34% plunge from its highest close of $66.22 on March 27.
The civil suit, filed in February in Delaware, alleges Trump tried to dilute Litinsky’s and Moss’ 8.6% stake in the business through its now-completed merger. The men – ex-contestants on Trump’s TV show The Apprentice who joined forces with him to form Trump Media – allege the former president wanted to increase the amount of shares before the merger to water down their stake and potentially generate billions to pay off legal judgments.
Shares of Trump Media initially soared after the startup began trading publicly last month following its merger with Digital World Acquisition Corp., adding billions of dollars in paper wealth for Trump, who owns nearly 60% of the company. Shares have fallen since then, following a filing saying Trump media lost $58 million last year while making only $4.1 million in revenue.
The April 15 trial involves a case by Manhattan District Attorney Alvin Bragg accusing Trump of falsifying business records to conceal a hush money payment to a porn star before the 2016 election. It’s one of four criminal cases Trump is facing as he campaigns to return to the White House in the November election.