The potential merger between Truth Social and a blank-check acquisition vehicle, which could significantly benefit former President Donald Trump by providing a financial windfall of up to $4 billion, is facing a series of legal challenges. Trump, who could potentially clear his legal penalties if Truth Social goes public, stands to gain a substantial amount from the deal involving $DWAC. However, recent developments have introduced new hurdles. A former executive of the acquisition vehicle has filed a lawsuit in Delaware seeking to block the merger until a larger payout is secured. Additionally, Truth Social co-founders have accused Trump of attempting to cheat them in the merger process, further complicating the situation. These legal disputes, including a lawsuit filed against former Digital World CEO and SPAC sponsor Patrick Orlando for causing reputational harm and delays, have cast doubt on the merger's completion. The situation is further exacerbated by new lawsuits aiming to prevent the merger, highlighting the precarious position of Trump's potential financial rescue. The stock of $DWAC has seen a pre-market decrease of 2.8%, indicating market reactions to these developments.
The Truth Social merger and public offering that could rescue Donald Trump from his financial straits has attracted dueling lawsuits. | By @baseballcrank https://t.co/AKOv04ktcs
New lawsuits seek to block merger of SPAC with Trump media company https://t.co/9iUYX8jLRz
Former President Donald Trump’s potential $4 billion windfall from a blank-check merger involving the company that runs his social media platform could be derailed by a flurry of legal disputes with his co-founders. https://t.co/svg2Da82BO
Why Donald Trump’s scramble to cover millions in legal fines could start to come to a head next week: https://t.co/UnMPIaPBLK https://t.co/PIRJCeDKVM
DWAC discloses new lawsuits seeking to block merger with Trump Media & Technology https://t.co/m4HI1GP3PN
$DWAC (-2.8% pre) Trump Media sued by co-founders ahead of DWAC merger, potential setback for lucrative deal - CNBC https://t.co/hUMMnkpPFe
From the lawsuit DWAC & Trump Media filed against former Digital World CEO and SPAC sponsor Patrick Orlando: Orlando’s "avarice, incompetence, and general refusal to act in DWAC’s best interests has caused extensive reputational harm" and delays in the merger process.
Trump's Truth Social Payday Hits Road Bump As Co-Founders Sue Ex-President https://t.co/39eO9a9StP
A former executive of the blank-check acquisition vehicle that plans to take Donald Trump's social media company public sued to block the deal until he obtained a larger payout, according to a lawsuit docketed Feb. 29 in Delaware https://t.co/hLOGVYu8Mh
"Truth Social co-founders accuse Trump of trying to rip them off in merger" - https://t.co/mQCrLilTAD
Truth Social's Going Public Might Save Donald Trump’s Bottom Line — but Don’t Bet on It - a great explainer by @baseballcrank … https://t.co/PgxwxDPQuW
Donald Trump could reap $4 billion stock windfall from merger deal $DWAC. https://t.co/UvY9tNewUd
BREAKING: Trump stands to make billions after the SEC clears the Truth Social merger deal.
Trump could afford to pay all his legal penalties if Truth Social goes public. But, per usual, the deal faces new troubles. https://t.co/7yKz1ralDe
Any one know how all these legal judgements against Trump are going to impact his planned Truth Social merger?