Investor Sponsor Vindicated in SPAC Deal Payout

Congratulations to Richards, Layton & Finger PA on securing a victory for their client, ARC Global Investments II LLC, regarding breach of contract claims against Trump Media Technologies Corp. (formerly Digital World Acquisition Corp.).

The case involved a deal between ARC and DWAC to take former President Donald Trump’s Truth Social media company public.  ARC alleged that DWAC diluted its equity from the deal with an improper conversion rate for ACR’s shares. Delaware Chancery Judge Vice Chancellor Lori W. Will sided with ARC, citing the investor sponsor was shortchanged in the deal and ordered a larger share of the stock be awarded to ARC from the transaction.

DOAR was proud to support ARC’s trial team in conceptualizing and creating demonstratives for use during the trial.

Read more about the case on Law360.com.