LOS ANGELES—Felix Wong, a director at Triller Group Inc. (NASDAQ:ILLR), recently sold 500 shares of the company's common stock. The transaction, executed on December 6, 2024, was conducted at a price of $4 per share, totaling $2,000. The sale price represents a premium to the current trading price of $2.92, as the stock has experienced significant volatility, declining nearly 13% in the past week alone. According to InvestingPro analysis, the company's overall financial health score is rated as WEAK. Following this sale, Wong retains ownership of 18,765 shares in the company. This transaction is part of the regular reporting required for company insiders. InvestingPro analysis reveals several additional insights about the company's performance and financial health, with 8 more exclusive ProTips available to subscribers.
In other recent news, Triller Group Inc. is facing a $35.5 million lawsuit for alleged default on several financial obligations. The company, however, has expressed intent to vigorously defend itself against these claims. In terms of leadership, Triller Group has rescinded the appointment of Kevin McGurn as CEO and announced the resignation of independent director James McCann.
The company has also recently merged with AGBA Group Holding Limited, integrating AGBA's financial services and healthcare products with Triller's AI-powered social media and live-streaming platform. Post-merger, the former shareholders of AGBA and Triller now hold 30% and 70% of the outstanding common stock in the combined company, respectively.
Further developments include the adoption of a new equity incentive plan and the election of a new board of directors, including Robert E. Diamond Jr., Ng Wing Fai, Brian Chan, Felix Yun Pun Wong, and Thomas Ng. Triller Group's shareholders have also ratified the appointment of WWC, P.C. as the independent auditors for the fiscal year ending December 31, 2024. These are all recent developments and are part of the company's commitment to corporate governance and performance incentivization.
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