Storm-related flooding this week leaves San Antonio Zoo in a bit of a financial dry spellFILE - The download screen for Truth Social app is seen on a laptop computer, March 20, 2024, in New York. – A federal judge in Delaware has ruled in favor of a firm seeking assurance that it will be able to sell its minority stake in the parent company of former president Donald Trump’s
The judge on Friday granted summary judgment to Florida-based United Atlantic Ventures LLC in a lawsuit filed against Minnesota-based Odyssey Transfer and Trust Co., a business that handles securities transfers among registered shareholders.UAV is owned by Andrew Litinsky and Wesley Moss, former contestants on Trump’s TV show, “The Apprentice” who also helped facilitate a merger thatin both Delaware and Florida over UAV’s stake in the company.
Friday’s ruling involves UAV’s concerns that it will not receive its Trump Media shares, currently valued at about $350 million, from Odyssey when a post-merger lockup period expires Sept. 19. According to court filings, Odyssey told UAV earlier this year that it would be taking direction from TMTG and its lawyers.
After Odyssey filed a lawsuit, the parties appeared to have reached a resolution, with Odyssey saying it would remove transfer restrictions on the share after the lockup period expires “without preference to any TMTG shareholder.” After seeking approval from Trump Media, however, Odyssey tried to change that language to “on the same basis as other similarly situated TMTG shareholders.”U.S.
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