Judge rules for ARC Global in breach of contract claim against Trump Media

WILMINGTON, Delaware (Reuters) -A Delaware judge ruled for Patrick Orlando's ARC Global on a breach of contract claim over its stake in Trump Media & Technology Group, although the judge rejected ARC's breach of fiduciary duty claim, according to an opinion published on Tuesday.



ARC earlier this year sued Digital World Acquisition Corp and alleged it improperly calculated the rate for converting DWAC Class B shares into Class A shares after the blank check company merged with Trump Media, taking Donald Trump's media company public.

Judge Lori Will ordered the stake to be converted at a ratio of 1.4911, which fell between the 1.8178 ratio sought by ARC and the 1.3481 ratio that DWAC argued was proper.

Source: Investing.com