My TOP Altcoin for Right Now Is...

Searching for the top investment opportunity in crypto? Look no further. Our $3 report gives you the full scoop. You'll get this exciting token's name, our recommended investment strategy, and growth projections. Time is of the essence with this one...

Stakeholder in Trump's Truth Social parent company wins court ruling over share transfer

RANDALL CHASE
September 06, 2024

DOVER, Del. (AP) -- A federal judge in Delaware has ruled in favor of a firm seeking assurance that it will be able to sell its minority stake in the parent company of former president Donald Trump's Truth Social platform.

The judge on Friday granted summary judgment to Florida-based United Atlantic Ventures LLC in a lawsuit filed against Minnesota-based Odyssey Transfer and Trust Co., a business that handles securities transfers among registered shareholders.

UAV is owned by Andrew Litinsky and Wesley Moss, former contestants on Trump's TV show, "The Apprentice" who also helped facilitate a merger that took Trump Media public in March.

Since then, UAV and Trump Media have been battling in courts in both Delaware and Florida over UAV's stake in the company. Attorneys for Trump Media assured a state judge in Delaware earlier this year that UAV was entitled to an 8.6% stake and would suffer no merger-related dilution. They now contend, however, that UAV is not entitled to its shares because of pre-merger mismanagement by Litinsky and Moss.

Friday's ruling involves UAV's concerns that it will not receive its Trump Media shares, currently valued at about $350 million, from Odyssey when a post-merger lockup period expires Sept. 19. According to court filings, Odyssey told UAV earlier this year that it would be taking direction from TMTG and its lawyers.

After Odyssey filed a lawsuit, the parties appeared to have reached a resolution, with Odyssey saying it would remove transfer restrictions on the share after the lockup period expires "without preference to any TMTG shareholder." After seeking approval from Trump Media, however, Odyssey tried to change that language to "on the same basis as other similarly situated TMTG shareholders."

Trump holds about 115 million TMTG shares, or roughly 60% of the company's outstanding shares.

U.S. District Judge Gregory Williams questioned Odyssey's conduct, noting that it claimed the language change was "immaterial," while allowing it to scuttle settlement negotiations.

"Even outside settlement negotiations, Odyssey's conduct has been elusive," Williams wrote.

Williams ordered that when Odyssey is notified by TMTG of the expiration of the lockup provisions, it must promptly notify UAV, remove transfer restrictions on all shares and not interfere with the delivery of the shares.

TMTG's share price hit a high of $79.38 on its first day of trading but is now hovering around $17, closing Friday at $17.10.

Continue Reading...

Popular

Mother Sells Taylor Swift Tickets Over Star's Endorsement Of Kamala Harris: 'I'm Gonna Shake It Off, And I'm Done With You'

A mother has chosen to sell the Taylor Swift concert tickets she had bought as a birthday present for her daughter in response to the pop star's recent endorsement of Kamala Harris.

Harris, Trump Films To Hit Theaters Weeks Before 2024 Election: One Candidate Tried To Block Movie From Release

Movies about Kamala Harris and Donald Trump hit theaters in October. Find out the differences between the movie and why one candidate wants a ban.

A New Drug Set to Outgrow Zoloft and Metformin--Invest Now - Ad

A new breakthrough drug is predicted to hit 250 million subscriptions in the next SIX YEARS, according to Morgan Stanley. Even better, a tiny company - trading for only $7 - holds key patents on this new drug. But it won't stay under the radar for much longer.

Americans Split On Election Result Acceptance Between Harris And Trump, Here Is The Candidate They Think More Likely To Accept Voters' Verdict

A survey conducted by ABC News/Ipsos has shed light on the American public's confidence in the acceptance of the upcoming November presidential election results by Vice President Kamala Harris and former President Donald Trump.

Huge payout expected for a rare coin bought by Ohio farm family and hidden for decades

TOLEDO, Ohio (AP) -- Three sisters from Ohio who inherited a dime kept in a bank vault for more than 40 years knew it had some value. But they had no idea just how much until just a few years ago.

Do Not Day Trade (Do This Instead) - Ad

Forget day trading (especially in markets like these). Trade OVERNIGHT instead! I've uncovered a shocking way to take 100% certain events (mandated by the U.S. Government)...And target OVERNIGHT payouts like: 253%... 327%... Even 383%! Enough to potentially hand you profits of $25,300... $32,700... heck even $38,300!

DHL sues MyPillow, alleging company founded by Mike Lindell owes $800,000

MINNEAPOLIS (AP) — Package is suing MyPillow, alleging the company synonymous with its founder, chief pitchman and election denier Mike Lindell owes nearly $800,000 for unpaid bills.

The No. 1 AI Stock of 2024 (Not Nvidia) - Ad

It's not Nvidia, Meta Platforms, Alphabet, or Amazon. But thanks to a recent major deal, an under-the-radar stock could become the No. 1 winner of the AI boom. "This company just teamed up with one of the biggest power players in the AI industry... yet you can still buy it for just one-twelfth the price of Nvidia -- the time to buy is NOW," says Marc Chaikin.

Bill Ackman And Elon Musk Blast Kamala Harris For Her Social Media Posts During Debate With Trump: 'Even Her Tweets Are Not Her Own'

Recent comments by prominent figures have sparked debate over Vice President Kamala Harris's social media activity and public engagement. Bill Ackman, CEO of Pershing Square Capital Management, raised questions about Harris's involvement in her own X posts during the recent Republican primary debate.

McCormick's hedge fund days are a double-edged sword in Pennsylvania's Senate race

HARRISBURG, Pa. (AP) — Before he ran for the U.S. Senate in Pennsylvania, was a big name on Wall Street.

This Is How the AI Bull Market Ends - Ad

The AI bull market as we know it right now will end...And all the big popular AI stocks investors are piling into right now will NOT be the where the biggest returns will come from. And for investors who don't know how the market is changing and where it's going...They could end up left behind.

Trump plans to launch his sons' crypto business on Monday, 50 days before Election Day

WASHINGTON (AP) — Former President Donald Trump plans to deliver remarks next Monday about cryptocurrency and the launch of the company , a crypto platform controlled by the Republican nominee's sons Donald Jr. and Eric.

Investigators say dispatching errors led to Union Pacific train crash that killed 2 workers

OMAHA, Neb. (AP) — Dispatching errors combined with the failure of two backup systems allowed a Union Pacific train to that had been parked on a side track for nine months in Southern California two years ago, killing an engineer and a conductor, according to a report issued Thursday.

5 Stocks That Could Triple in a Week - Ad

What if I told you that I have a system that has detected when these tiny stocks are on the verge of exploding... And what if I told you my system has targeted 5 new stocks that could triple as early as next week? Pay just $5 for a full year of Stealth Trades before this deal disappears!

Judge allows smoking to continue in Atlantic City casinos, dealing blow to workers

ATLANTIC CITY, N.J. (AP) — A judge on Friday allowed smoking to continue in Atlantic City’s casinos, giving some measure of relief to the city's struggling casino industry while rebuffing workers who have long sought to be able to breathe clean air on the casino floor.

China's Chipmaking Investments Top US, Taiwan, South Korea Combined: What It Means For Nvidia, ASML

China invests $25 billion in chipmaking equipment, surpassing spending by South Korea, Taiwan, and the U.S. This could impact top chipmakers and suppliers like NVIDIA and ASML.

Top AI Stock (It's Not MSFT, GOOGL, AMZN or AAPL) - Ad

Ross Givens says the #1 artificial intelligence stock is NOT Microsoft, Google, Amazon or Apple, not even Nvidia. Nope -- his research is pointing to a tiny, under-the-radar stock that's trading for just a few dollars right now... And has lined up major partnerships with Honda, Netflix, Pandora, Mercedes Benz and many, many others.

2024 Oil Boom - Ad

There is a much better way to profit from oil in 2024. It's NOT oil stocks, futures, or anything you've likely heard about. In fact, one man used it build a small $1,000 investment into a $100,000 income stream over fifty years.

Pope Francis Criticizes Both Trump And Kamala Harris For Supporting Abortion, Urges Catholics To Vote For 'Lesser Evil'

Pope Francis expressed concerns over U.S. presidential candidates' positions on abortion and migration, urging American Catholics to vote for the "lesser evil" in the upcoming elections.

Jaguar tells owners of older I-Pace electric SUVs to park them outdoors due to battery fire risk

DETROIT (AP) — Jaguar is telling owners of about 3,000 electric SUVs to park them outdoors and away from structures due to the risk of battery fires.

Oil = Monthly Income - Ad

Right now, there's an unusual $25 way to collect MONTHLY income from the oil markets. It's not a stock, bond, or anything you've likely heard about... But it's by far my #1 investment opportunity for 2024.

Former Canadian fashion mogul Peter Nygard sentenced to 11 years for sexual assault

TORONTO (AP) — was sentenced Monday in a Toronto courtroom to 11 years in prison for sexually assaulting four women. The judge called the 83-year-old a “sexual predator.”

Moderna Faces Analyst Downgrades Amid Revised R&D Restructured Strategy and Delayed Profitability Target

Moderna announces plans to reduce R&D spending by $1.1 billion by 2027, focusing on ten key products. Analysts highlight near-term challenges, lowered price targets, and a delayed breakeven to 2028, with optimism around Moderna's oncology pipeline and long-term platform potential.

Don't Buy Another Stock Until You See This - Ad

We face a widespread collapse unlike anything we've seen in our lifetimes. By taking 4 simple steps today you can stay safe from the coming catastrophe. Which is why I want to rush you my new book "Midnight in America" FOR FREE.

Exxon, Mitsubishi Join Forces For Low-Carbon Hydrogen Project

Exxon Mobil and Mitsubishi Corporation inked an agreement for low-carbon hydrogen and ammonia production in Baytown facility, expected to be the world's largest of its kind. Final decision in 2025, startup in 2029.

A key employee who called the Titan unsafe will testify before the Coast Guard

A key employee who labeled unsafe prior to its last, fatal voyage was set to testify Tuesday before U.S. Coast Guard investigators.

My No. 1 Oil Play for 2024 - Ad

Do you own oil and gas stocks? Or are you thinking about buying some? If so, you need to see my #1 oil play for 2024. But it's NOT oil stocks, futures, or anything you've likely heard about. Rather, it's an unusual way to potentially bank monthly income from the oil and gas markets.

Mark Zuckerberg Says He Is Done Apologizing, Reveals One Of The Biggest Mistakes Of His Career

Meta CEO Mark Zuckerberg says he has grown tired of taking on too much ownership of problems beyond his or his company's control.

President Trump and Elon Musk Issue Stark Warning - Ad

Both President Trump and Elon Musk are warning about something that could send the market down 50%, real estate down 40% and savings accounts down 30%.

The Last Time Gold Flashed This Warning Sign, the Market Dropped 80% - Ad

Both President Trump and Elon Musk are warning about something that could send the market down 50%, real estate down 40% and savings accounts down 30%.

US-sanctioned Serbia official meets Putin, says Belgrade is an ally and won't join Western penalties

Serbia is a Russian ally and will never impose sanctions against Moscow or join NATO, the Balkan nation’s deputy prime minister said Wednesday as he met with Russian President Vladimir Putin.

Analysts Are Projecting "Safe-Haven" Stock Will Nearly Double - Ad

Already up nearly 50% in the last 6 months this gold company has an analyst target nearly twice its current price. With 40+ investment banks and funds already invested it's no wonder this $1.3B company (trading under $2) is grabbing investor attention.

Nvidia Set To Reach $10 Trillion Valuation As Blackwell Expected To Propel Chip Maker With 'Fireworks Again' In 2025, Analyst Predicts

NVIDIA Corp is projected to surge to a $10 trillion valuation, according to Beth Kindig, lead tech analyst at I/O Fund. Kindig highlighted the potential of Nvidia's next-generation artificial intelligence chip, Blackwell.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright finstrategist.com
Privacy Policy | Terms of Service