Investment firms led by the former CEO of the SPAC that merged with Donald Trump's media company allege that their files were hacked and stolen by a current member of the media company's board of directors. The firms in a federal civil lawsuit accuse board member Eric Swider of plotting a "coup" to replace Patrick Orlando as CEO of the SPAC, Digital World Acquisition Corp. Trump Media & Technology Group Corp.
, which owns Truth Social and trades under the ticker DJT, soared in its stock market debut but those gains have since erased. 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. Public, allowing it to trade on the Nasdaq Stock Market
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