I posted up the NY Times story on this effort….
I thought that a effort by Trumnp to pull any money (1/2 Billion Dollars) from a publicly traded company deal was ludicrous ….
It IS…..
That merger deal, which could value Trump’s stake in the company at more than $3 billion, would offer the former president a financial lifeline at a time when he is facing more than $454 million in penalties from a civil fraud judgment this month in New York….
…
But UAV’s attorneys allege in the motion that Trump has recently attempted to “drastically dilute” the partnership’s stake as part of what they called an “11th hour, pre-merger corporate maneuvering” tactic designed to increase the amount of authorized stock, from 120 million shares to 1 billion shares.
UAV’s attorneys wrote that the “dilution scheme” had “no legitimate business purpose” and suggested that Trump and the Trump Media board planned to issue the new shares to “Trump and/or his associates and children,” watering down UAV’s stake to less than 1 percent…..
Note…..
As I point out in my first linked piece?
Just the fact Trump is mentioned in this means the thing is shaky ….
The origanl Times piece has the deal at a possible $4B….
Todays story has the deal at $3B …..
And dropping FAST, eh?