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Trump's Media Company Deal Investigated by Securities Regulators
Link to tweet
https://www.nytimes.com/2021/12/06/business/trump-media-spac-investigation.html
No paywall
https://archive.ph/uc8tM
Securities regulators have opened investigations into the planned merger of a nascent social media company backed by former President Donald J. Trump with a so-called blank-check company that raised nearly $300 million in an initial public offering in September.
The investigations by the Securities and Exchange Commission and the Financial Industry Regulatory Authority were disclosed Monday in a regulatory filing by Digital World Acquisition Corporation, the special purpose acquisition company that intends to merge with Trump Media Technology Group.
Both regulators are looking for information regarding the trading in shares of Digital World. The S.E.C. is also looking into “documents and communications” between Digital World and Trump Media.
Digital World said it was cooperating with the requests for information and “the investigation does not mean that the S.E.C. has concluded that anyone violated the law or that the S.E.C. has a negative opinion of D.W.A.C. or any person, event, or security.”
*snip*