Private equity investor Brian Shevland is suing the CEO of the blank check company that it merging with former President Trump’s social media platform, claiming a “brazen act of fraud.”
Big picture: The lawsuit comes just a week after Digital World Acquisition Corp. (DWAC), led by Patrick Orlando, disclosed that it’s under investigation by federal securities regulators.
Shevland was an early director nominee of DWAC, but claims in his lawsuit that he was removed by Orlando without warning or notification — a move that denied him thousands of shares and the ability to buy more stock at a very low price.
Read the full article.
— Mark Albert (@malbertnews) December 17, 2021