Trump Media, SPAC Deal Architect Come Up Empty in Share Dispute

President Donald Trump’s media company and the architect of its blank-check merger both came up empty Monday in their court battle over the transaction that made Trump’s Truth Social network a publicly traded business.

Delaware’s top legal tribunal shot down dueling appeals filed in the stock dispute by both Trump Media & Technology Group Corp. and Patrick Orlando, sponsor of the shell entity it combined with in 2024. Orlando previously won a 700,000-share bump—worth about $7 million at current trading prices—when the trial judge presiding over the stock dispute split the difference between his legal position and ...