Trump Media sued by co-founders ahead of DWAC merger, potential setback for lucrative deal
Publishing timestamp: 2024-02-29 21:51:00
Summary
Former President Donald Trump is accused of trying to dilute the value of stock shares in his social media company, potentially depriving co-founders of hundreds of millions of dollars in profits. The lawsuit alleges wrongful maneuvering by TMTG to dilute UAV's minority stake ahead of a planned merger with DWAC. The merger could deliver billions to Trump as he faces over $500 million in civil judgments.
Sentiment: NEGATIVE
Tickers: DWAC,
Keywords: markets, business, breaking news: politics, laws, digital world acquisition corp, politics, social media, donald trump, breaking news: markets, business news,
Source: https://www.cnbc.com/2024/02/29/trump-media-sued-over-dwac-merger-share-dilution.html