Federal securities regulators and a grand federal jury in New York have cited former President Trump’s social media company as part of their investigations into his pending agreement to make it public through a check company in called Digital World Acquisition Corp., according to a Friday release.
Overview: Some current and former members of Trump Media & Technology Group were also cited, but no specific individual names were revealed.
Why it’s important: Research continues to expand and could delay or prevent TMTG from becoming public.
- Quotations were previously issued to members of the blank check company.
- The question is whether Digital World Acquisition held merger talks with Trump Media prior to its own IPO, which would have violated the securities law.
- Trump Media operates the Social Truth app, run by former MP Devin Nunes (R-Calif.). It also has the ambition to expand into video and other media.