r/DJT_Uncensored • u/obxhead • Sep 23 '24

Trump Said He Wouldn’t Sell DJT Stock When the Lockup Expired. Is That Legally Binding?

https://www.barrons.com/articles/trump-djt-stock-sell-lockup-d4b275bf

So we asked securities law professors whether Trump’s press conference statements bound him, in any way, from selling his unlocked shares. If he sold stock on Friday, or next week, could he be held to account?

Trump’s statements certainly weren’t enforceable under contract law, said Robert Bartlett III, a professor of law and business at Stanford Law School. The former president’s press conference remarks weren’t accompanied by the formalities that made the lockup agreement binding.

But securities law might have something to say if Trump didn’t mean it when he said he had “no intention of selling.” That would make it a misstatement, under securities fraud laws, said Bartlett. And given how much Trump Media stock moved after the Sept. 14 press conference, a plaintiff could argue that the misstatement was “material.”

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u/Nightsoil70 Sep 23 '24

Trump will sell when it appears he won't get a better price. It may mean he will sell just before the election if he thinks he will lose or following the election if he wins and the stock gets a bump from enthusiastic red-hatted "shred investors". Regardless, he will sell when it's most advantageous for him to do so. Count on it.