LOS ANGELES—Brian Chung Yau Chan, a director at Triller Group Inc. (NASDAQ:ILLR), recently sold 14,040 shares of the company's common stock. The sale comes as the $451.8M market cap company faces challenging conditions, with InvestingPro data showing a weak financial health score and a 28% decline in share price year-to-date. The transaction, which took place on December 5, 2024, was executed at an average price of $3.2758 per share, amounting to a total value of $45,992. Following the sale, Chan retains ownership of 14,040 shares directly. This move is documented in the latest SEC filing, reflecting his current holdings in the company. According to InvestingPro analysis, ILLR appears overvalued at its current price of $2.92. Get exclusive access to detailed valuation metrics and 12+ additional ProTips by subscribing to InvestingPro.
In other recent news, Triller Group Inc. is facing a $35.5 million lawsuit over alleged default on various financial obligations. The company has stated its intention to vigorously defend against these claims, although the outcome remains uncertain. Triller Group also recently rescinded the appointment of Kevin McGurn as its CEO and announced the resignation of independent director James McCann from its board.
In addition to these developments, Triller Group has completed a strategic merger with AGBA Group Holding Limited. This consolidation combines AGBA's financial services and healthcare products with Triller's AI-powered social media and live-streaming platform. As a result, former shareholders of AGBA and Triller now hold 30% and 70% of the outstanding common stock in the combined company, respectively.
The newly formed entity has adopted a new equity incentive plan and elected its board of directors, which includes Robert E. Diamond Jr., Ng Wing Fai, Brian Chan, Felix Yun Pun Wong, and Thomas Ng. Shareholders have also ratified the appointment of WWC, P.C. as the independent auditors for the fiscal year ending December 31, 2024. These recent developments reflect Triller Group's commitment to corporate governance and its strategy to incentivize performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.