Trump SPAC Sues to Force Board Member’s Vote for Media Deal

Bloomberg03-20

(Bloomberg) -- The company planning to take Trump Media & Technology Group public sued to force its biggest investor, ARC Global Investments II, to vote in favor of the deal before a critical deadline...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2420572278?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/zBuWAOXWC6WZcIDwk6o55Q--~B/aD0xMzMzO3c9MjAwMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/bloomberg_markets_842/f0c11a34567d60b4be64642f3cd43211","is_english":true,"pubTime":"2024-03-20 23:18","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2420572278","market":"us","top_or_hot":-1,"title":"Trump SPAC Sues to Force Board Member’s Vote for Media Deal","media":"Bloomberg","content":"<div>\n<p>(Bloomberg) -- The company planning to take Trump Media & Technology Group public sued to force its biggest investor, ARC Global Investments II, to vote in favor of the deal before a critical deadline...</p>\n\n<a href=\"https://finance.yahoo.com/news/trump-spac-sues-force-board-151820330.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trump SPAC Sues to Force Board Member’s Vote for Media Deal</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTrump SPAC Sues to Force Board Member’s Vote for Media Deal\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-20 23:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/trump-spac-sues-force-board-151820330.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- The company planning to take Trump Media & Technology Group public sued to force its biggest investor, ARC Global Investments II, to vote in favor of the deal before a critical deadline...</p>\n\n<a href=\"https://finance.yahoo.com/news/trump-spac-sues-force-board-151820330.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4516","symbol_name":"特朗普概念","start_time":0,"source_url":"https://finance.yahoo.com/news/trump-spac-sues-force-board-151820330.html","article_id":"2420572278","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/zBuWAOXWC6WZcIDwk6o55Q--~B/aD0xMzMzO3c9MjAwMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/bloomberg_markets_842/f0c11a34567d60b4be64642f3cd43211"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2420572278","pubTimestamp":1710947900,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":" -- The company planning to take Trump Media & Technology Group public sued to force its biggest investor, ARC Global Investments II, to vote in favor of the deal before a critical deadline this week.Trump Rules Out Vivek Ramaswamy as Running Mate as He Eyes New Team. What Happens If Trump Can’t Post His $454 Million Bond. Ultra-Wealthy Are Souring on Chicago’s Most Elite Neighborhood. US Weighs Sanctioning Huawei’s Secretive Chinese Chip Network. Apple Is in Talks to Let Google Gemini Power iPhone AI Features. With the merger vote March 22, Digital World insists that ARC has to vote in favor of the deal pursuant to a 2021 agreement, at the time of the special purpose acquisition company’s initial public offering. If the Digital World takeover of Trump Media proceeds, it could provide a windfall of as much as $4 billion to former President Donald Trump as he faces hundreds of millions of dollars in legal verdicts.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4516":"特朗普概念","DWACU":"Digital World Acquisition Corp."},"translate_title":"特朗普特殊目的收购公司起诉迫使董事会成员投票支持媒体交易","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DWACU":0.9,"DWACW":0.9,"DWAC":0.72},"content_text":"(Bloomberg) -- The company planning to take Trump Media & Technology Group public sued to force its biggest investor, ARC Global Investments II, to vote in favor of the deal before a critical deadline this week.\nMost Read from Bloomberg\n\nTrump Rules Out Vivek Ramaswamy as Running Mate as He Eyes New Team\nWhat Happens If Trump Can’t Post His $454 Million Bond\nUltra-Wealthy Are Souring on Chicago’s Most Elite Neighborhood\nUS Weighs Sanctioning Huawei’s Secretive Chinese Chip Network\nApple Is in Talks to Let Google Gemini Power iPhone AI Features\n\nThe suit, filed in New York state court Tuesday, is the latest legal battle between Digital World Acquisition Corp. and its former chairman, Patrick Orlando. While he was ousted last year, Orlando still holds significant leverage over the company through his ability to influence the voting shares of ARC.\nWith the merger vote March 22, Digital World insists that ARC has to vote in favor of the deal pursuant to a 2021 agreement, at the time of the special purpose acquisition company’s initial public offering. If the Digital World takeover of Trump Media proceeds, it could provide a windfall of as much as $4 billion to former President Donald Trump as he faces hundreds of millions of dollars in legal verdicts.\n“ARC must vote in favor of the merger pursuant to the unambiguous terms of the letter agreement,” DWAC said in the suit. “There are no exceptions despite ARC’s managing member Patrick Orlando’s desire to hold ARC’s vote hostage for his personal gain.”\nOrlando, who still sits on DWAC’s board, has challenged how much stock ARC shareholders would receive in Trump Media & Technology Group. He didn’t return messages seeking comment on the lawsuit.\nDigital World and Trump Media have also sued Orlando in Florida over the deal. \nThe March 22 date for the shareholder vote on DWAC’s proposed acquisition of Trump Media survived an attempt by Trump Media co-founders Andy Litinsky and Wes Moss to halt the vote over complaints that their 8.6% stake in Trump’s company would be diluted. \nRead more: Judge Clears Way For Trump Media To Hold Merger Vote\n--With assistance from Jef Feeley.\nMost Read from Bloomberg Businessweek\n\nElon Musk’s Don Lemon Implosion\nChina’s Super-Cheap EVs Offer Hope for Average American Buyers\nShohei Ohtani, the Dodgers’ $700 Million Man, Will Transform Baseball—If He Wants To\nJulius Baer Hits Reboot to Escape Swiss Banking’s New Malaise\nCongress Should Think Bigger Than TikTok Ban, Tech Critics Say\n\n©2024 Bloomberg L.P.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2420572278"}