Similar Stories to Company Buying Trump’s Social Media App Faces Subpoenas on Bing News

The company planning to buy Donald Trump’s new social media business has disclosed a federal grand jury investigation that it says could impede or even prevent its acquisition of the Truth Social app. Shares of Digital World Acquisition Corp. dropped 10% in morning trading Monday as the company revealed that it has received subpoenas from a grand jury in New York. The Justice Department subpoenas follow an ongoing probe by the Securities and Exchange Commission into whether Digital World broke rules by having substantial talks about buying Trump’s company starting early last year before Digital World sold stock to the public for the first time in September, just weeks before its announcement that it would be buying Trump’s company. [time-brightcove not-tgx=”true”] Read More: What to Know About Digital World, the Company Funding Trump’s New Social Media Platform ‘TRUTH Social’ Trump’s social media venture launched in February as he seeks a new digital stage to rally his supporters and fight Big Tech limits on speech, a year after he was banned from Twitter, Facebook and YouTube. The Trump Media & Technology Group — which operates the Truth Social app and was in the process of being acquired by Digital World — said in a statement that it will cooperate with “oversight that supports the SEC’s important mission of protecting retail investors.” The new probe could make it more difficult for Trump to finance his social media company.

BING NEWS:
  • Tabloid Publisher Testifies Trump Asked Him to ‘Help the Campaign’
    Prosecutors in Donald J. Trump’s criminal trial say he has violated a gag order barring him from attacking witnesses and others close to the case, which centers on a hush-money payment to a porn star.
    04/23/2024 - 10:44 am | View Link
  • Trump to score additional $1.2 billion windfall thanks to his Truth Social app
    Trump is getting additional shares in his social media company, Trump Media & Technology Group, as part of his current agreement. He still can't cash in yet though.
    04/23/2024 - 10:15 am | View Link
  • Trump poised to clinch $1.3 billion social media company stock award
    Donald Trump is set to secure on Tuesday a stock bonus worth $1.3 billion from the company that operates his social media app Truth Social, equivalent to about half the majority stake he already owns ...
    04/23/2024 - 7:00 am | View Link
  • Tabloid publisher says he pledged to be Trump campaign's 'eyes and ears' during 2016 race
    Prosecutors in the historic hush money trial of Donald Trump urged a judge Tuesday to fine him and hold him in contempt over social media posts that they say violated a gag order barring attacks on ...
    04/22/2024 - 11:46 pm | View Link
  • Morning Report — Trump trial: Conspiracy or politics?
    The prosecution Monday told jurors that then-candidate Donald Trump orchestrated a criminal plot to corrupt the 2016 election. Influencing voters is not a felony, the defendant’s lawyer countered.
    04/22/2024 - 11:31 pm | View Link
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