Judge Orders Trump Media to Award Early Investor More Shares After Contract Dispute

Published on September 17, 2024

A Delaware judge has ruled that Trump Media & Technology Group (TMTG), the company behind Truth Social, breached an agreement with ARC Global and must give it more than half a million additional shares. Judge Lori Will of the Delaware Chancery Court issued an opinion on Sept. 16, ruling in a lawsuit in which ARC Global accused TMTG of shortchanging it on stock ownership. ARC Global, led by Patrick Orlando, was an early investor in Digital World Acquisition Corp. (DWAC), a special-purpose acquisition company that later merged with TMTG, making the company public. Former President Donald Trump owns about 57 percent of TMTG, commonly known as Trump Media....

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