Trump’s media company owes a lot more stock

Standing firm: Trump speaks to the media at Trump National Golf Club Los Angeles in California. The former US President sent shares of his social media startup soaring after he said he won’t sell his stake when a lockup period expires today. — Bloomberg

NEW YORK: Trump Media & Technology Group Corp breached an agreement with Patrick Orlando’s ARC Global and the fund must receive more than half a million additional shares before a lock-up on insider sales expires today, a Delaware judge rules.

However, Lori Will of the Court of Chancery also ruled against ARC on breach of fiduciary duty claims and said Orlando was owed far fewer shares than he sought for his work on the deal that led to Trump Media becoming a public company.