Truth Social ( (DJT) ) just unveiled an announcement.
Andrew Northwall has stepped down as COO of Trump Media & Technology Group Corp. (TMTG), with the company planning to handle his responsibilities internally. TMTG has been embroiled in a legal battle with ARC Global Investments II, LLC over share conversion ratios following a business combination with Digital World Acquisition Corp. The dispute, which played out in the Delaware Court of Chancery, resulted in a court order favoring TMTG’s lower conversion ratio, allowing for the release of some disputed shares from escrow. Concurrently, TMTG has pursued litigation in Florida against ARC and certain individuals, alleging attempts to manipulate the share conversion ratio for personal gain, leading to a series of legal motions and a scheduled trial for August 2025. These legal proceedings are significant updates to TMTG’s ongoing disclosures to the Securities and Exchange Commission.
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