Two Founders of Trump Media Call Truce with Company as SPAC Merger Vote Approaches

United Atlantic Ventures sued TMTG late last month alleging that that Trump and other company leaders had schemed to deprive them of a stake in the merged company that could be worth hundreds of millions of dollars.

TMTG advised the Delaware Chancery Court that it would agree that Vice Chancellor Sam Glasscock acknowledged that if any claims remained after Digital World's stockholder vote on March 22, the court would address those issues expeditiously. However, the court advised that it would not block the stockholder vote, which will proceed as scheduled.

Vice Chancellor Glasscock directed TMTG and UAV to submit a proposed stipulated escrow order by close of business March 13.

Digital World in the filing said it will continue to update its disclosures regarding this matter as circumstances warrant.


Source: Two Founders of Trump Media Call Truce with Company as SPAC Merger Vote Approaches