Fucking Boom

[cliffside]

35. Trump's media company owes more stock to deal architect, judge rules

Updated Tue, September 17, 2024, 4:52 PM EDT·3 min read

https://ca.finance.yahoo.com/news/judge-rules-arc-global-breach-125802912.html


"WILMINGTON, Delaware (Reuters) -Trump Media & Technology Group Corp breached an agreement with Patrick Orlando's ARC Global and the fund must receive more than half a million additional shares before a lock-up on insider sales expires on Thursday, a Delaware judge has ruled.

However, Lori Will of the Court of Chancery also ruled against ARC on breach of fiduciary duty claims and said Orlando was owed far fewer shares than he sought for his work on the deal that led to Trump Media becoming a public company...


... The judge said in an opinion published on Tuesday that Orlando's ARC should receive about 8.19 million shares of Trump Media, more than the 7.04 million shares that the company has said that ARC was entitled to.

However, the judge determined ARC should receive less than the approximately 10 million shares sought by Orlando and the ruling should release back to the company more than 2.7 million shares of Trump Media held in escrow, according to securities filings..."