Drama at Trump Media SPAC: Former CEO Sues Over Alleged Boardroom Coup Before Merger Completion

Former CEO of Digital World Acquisition Corp (DWAC) sues replacement CEO over alleged "coup d'état" to oust him before merger with Trump Media.

Lawsuit alleges new DWAC CEO Eric Swider conspired with DWAC president to hack into former CEO's accounts and steal confidential information.

Swider allegedly offered "outsized compensation" to other directors for support in removing former CEO Patrick Orlando.

Merger between DWAC and Trump Media completed in March 2023 after nearly 2 years of delays.

Despite early stock gains, Trump Media has reported steep losses and declining stock price in recent weeks.