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Robert E. Diamond Jr., a director at Triller Group Inc. (NASDAQ:ILLR), has recently sold shares in the company amounting to $272,268. The transactions were carried out over a series of days in February, with shares sold at prices ranging from $1.90 to $1.95 each. The sales come amid challenging times for Triller, which according to InvestingPro data, has seen its stock decline over 55% in the past year.
The sales were executed in three separate transactions. On February 6, Diamond sold 35,000 shares at an average price of $1.90. This was followed by a sale of 86,035 shares on February 7 at an average price of $1.95. The final transaction took place on February 10, when 20,000 shares were sold at an average price of $1.90. The stock currently trades at $1.84, below Diamond’s selling prices, with a market capitalization of approximately $304 million.
Following these sales, Diamond holds 419,629 shares indirectly through Atlas (NYSE:ATCO) Merchant Capital LLC, where he serves as the Chief Executive Officer and majority owner. Additionally, he has direct holdings of restricted stock units totaling 4,841,250 shares, with varying vesting schedules.
These transactions were documented in a recent SEC Form 4 filing, providing transparency about Diamond’s trading activities in Triller Group stock.
In other recent news, Triller Group Inc. has been making headlines with a series of significant events. Following a recent merger, the company outlined its strategic vision to build an integrated ecosystem spanning social media, commerce, and financial technology. The leadership team, including CEO Wing Fai Ng and CFO Mark Carbeck, underscored the potential for scalability and growth. Additionally, the company announced the departure of Chairman Robert E. Diamond Jr. and board member James McCann.
In a surprising turn of events, the company also rescinded its CEO appointment of Kevin McGurn before he could assume the role. The reasons behind this decision remain undisclosed. Adding to the company’s challenges, Triller Group is currently facing a lawsuit filed by YA II PN, Ltd., seeking a payment of over $35 million for alleged default on various financial agreements.
These recent developments indicate a period of significant transition and potential legal challenges for Triller Group. Investors and stakeholders are likely to closely monitor these changes and their impacts on the company’s future.
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