Trump Media director accused of 'hacking' files in attempted corporate 'coup': lawsuit
Source: CNBC
Published Wed, Apr 10 2024 4:42 PM EDT Updated An Hour Ago
Investment firms led by the former CEO of the SPAC that merged with Donald Trumps media company allege that their files were hacked and stolen by a current member of the media companys board of directors.
In a federal civil lawsuit filed in South Florida last month, the firms accuse board member Eric Swider of plotting a coup in early 2023 to replace Patrick Orlando as CEO of the special purpose acquisition company, Digital World Acquisition Corp. As part of that attempted ouster, Swider and others allegedly stole access to the firms computer systems and then used the stolen information to attack Orlando, according to the lawsuit.
It was an audacious scheme to seize control of and enlarge their holdings, claims the suit, which was filed by Benessere Investment Group and ARC Global Investments II. The suit seeks damages and an injunction prohibiting the use of the stolen information and to stop the Defendants hacking the firms files. Orlando was fired from Digital World in March 2023 and replaced by Swider.
That blank check company last month completed a merger to take Trump Media & Technology Group Corp. public, allowing it to trade on the Nasdaq Stock Market. The company, which owns the Trump-centric social media app Truth Social and trades under the ticker DJT, soared in its stock market debut but those gains have since erased. On Wednesday alone, the share price fell nearly 9%. Since April 1, the stock has lost almost 45% of its value.
Read more: https://www.cnbc.com/2024/04/10/trump-media-director-accused-of-hacking-files-lawsuit.html
SWBTATTReg
(22,176 posts)dies.
onecaliberal
(32,928 posts)underpants
(182,949 posts)He pit his kids against each other for his enjoyment.
Meet the Obscure Financier Behind Donald Trumps Media Company
https://time.com/6109356/trump-social-media-financier/
Orlando, a former Deutsche Bank AG derivatives trader, started banking firm Benessere Capital almost a decade ago. Hes also co-founded a sugar-trading company and worked for a sugar processor.
Most recently hes embraced blank check companies. Orlando is also the chief executive officer of Yunhong International, a SPAC incorporated in the Cayman Islands and whose offices are in Wuhan, China. Yunhong raised $60 million last year and was meant to merge with battery manufacturer Giga Carbon Neutrality, but the deal was scrapped in September.
Dan
(3,583 posts)When I last heard the value of the DJT stock, it was around 33.99 a share, and to me that was around a 55% drop. Damn public schools.