Trump SPAC Sues to Force Board Member’s Vote for Media Deal
- Special purpose acquisition company faces deal deadline
- Digital World deal could produce $4 billion windfall for Trump
Donald Trump
Photographer: Brett Carlsen/BloombergThis article is for subscribers only.
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.
The 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.