Digital World sued as they merge with Trump Media
Digital World sued as they merge with Trump Media
- Dec 17, 2021
- 213 views
- 0 comments
-
Share
Brain Shevland, former nominee for director of the so-called blank-check company that plans to merge with former President Donald Trump's social media startup is suing claiming he was frozen out of the deal. He is seeking monetary damages over what he called a "brazen act of fraud".
The lawsuit is aimed at the chief executive of Digital World Acquisition Corp., which is a special purpose company that raised nearly $300 million for the merger. The suit was filed in Miami federal court on Tuesday. Mr.Shevland runs an investment management firm of his own and he found that he was no longer a nominee for the company's board Digital World's chief executive Patrick Orlando filed a document with the Securities and Exchange Commission omitting his name. Mr.Shevlanf in his lawsuit says that the exclusion of his name from the filing "cemented the freeze-out". According to him, he is owed 7,500 shares of Digital World and was deprived of his right to buy more shares at a lower price, he also claims to have been instrumental in the merger with Trump Media and Technology Group which in turn raised Digital World's capital. While the lawsuit doesn't mention exactly in what capacity Mr.Shevland was involved, former New York Times reportage confirms that Mr.Orlando and his colleagues were in talks with representatives of Trump Media.
When acquisition companies or SPACs like Digital World go public, they are not supposed to have merger targets in sight. After the news about the Trump Media merger broke out, Digital World has announced that the Securities and Exchange Commission has launched an investigation into the same. They also denied being in talks with any potential merger targets before its initial public offering.
Source: The New York Times
- 213 views
- 0 comments
You might also like
Best tech jobs in the United States : BLS data
- Sep 06, 2022
- 549 views
- 0 comments
For several reasons, the IT sector is appealing to job seekers. ...Read more
Salaries for Californian fast food employees might rise to $22 per hour
- Sep 06, 2022
- 502 views
- 0 comments
Despite the opposition of restaurant owners who worried it would raise customers' bills, California Governor Gavin Newsom on Monday signed a nation-leading law providing more than 500,000 fast food employees additional authority and rights. ...Read more
Workers leave as job dissatisfaction grows
- Aug 17, 2022
- 584 views
- 0 comments
Demands for improved pay and workplace environments are coming from workers in California to New York. ...Read more
Microsoft offers graduates from African nations job prospects in the US & Canada
- Aug 17, 2022
- 479 views
- 0 comments
New graduates from institutions in Nigeria and other African nations have been made aware of job prospects by Microsoft. ...Read more
Casper is hiring professional sleepers
- Aug 10, 2022
- 562 views
- 0 comments
A mattress company is searching for a role where napping while working is not only acceptable but also required. 'Casper Sleepers' are being hired by Casper, a New York-based business established in 2014. ...Read more
Category
-
Employee Surveys
-
Opening & Closing
-
Emergency Response
-
Performance Management
-
Educational Assistance
-
Onboarding
-
Retaliation
-
Inclusion, Equity & Diversity
-
Workforce Planning
-
Consultation
-
Relationship Management
-
Time Worked
-
Paid Leave
-
Guides
-
Leadership &
-
Inclusion, Equity &
-
Whistleblowing
-
Promotion
-
Hiring & Firing
-
Organizational &
-
Flexible Spending Account
-
Health Savings Accounts
-
Global Mindset
-
Eligibility Verification (I-9)
-
Hiring
-
Employee Handbooks
-
Vendors & Software
-
Parental Leave
-
Environmental Health Hazards
-
Raise
-
Overtime Pay
-
Family & Medical Leave
-
Employment Testing
-
Workplance Violence
-
Trends
-
Opening
-
Workplace Security
-
Employee Engagement
-
Talent Acquisition
-
Firing
-
Open Enrollment
-
Disability Accomodations
-
Salary Surveys
-
Business Acumen
-
Closing
-
Disaster Preparation & Response
-
Privacy
-
Dependent Benefits
-
Analytical Aptitude
-
Contracts & RFPs
Articles
Robert Owen, a Welsh textile mill owner, social reformer, and labor activist came up with a slogan ...Read more
Whatever your work setting may be, it’s important to stay productive while you don’t burn out. Here ...Read more
While employment is steadily rising in all sectors, the fear of COVID-19 still reigns supreme. As t ...Read more
About 46% of recruiters acknowledge this by seeing recruitment more as marketing than an expansion ...Read more