Delaware judge orders TMTG to issue 8.19M additional shares to ARC Global over breached agreement.
A Delaware judge has ordered Trump Media & Technology Group (TMTG) to issue over 8.19 million additional shares to ARC Global, an early investor, after finding TMTG breached its agreement. The conversion ratio for ARC's Class B shares to Class A shares was set at 1.4911 to 1. While ARC sought 10 million shares, the judge awarded fewer shares and dismissed additional claims of fiduciary duty breaches. TMTG’s stock has declined significantly amid the ruling.
September 17, 2024
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