Hundreds of millions of dollars are at stake for Mr. If regulators find that Digital World’s filings included false or misleading statements, they could take action against the company or its backers - potentially complicating the planned merger. has concluded that anyone violated the law,” Digital World said in its filing.Īlso on Monday, Trump Media announced that Representative Devin Nunes, Republican of California, was retiring from Congress to become chief executive of the company. “The investigation does not mean that the S.E.C. Trump’s company, Trump Media & Technology Group. The Securities and Exchange Commission has requested information about the deal, including the identities of some investors and “certain documents and communications” between the SPAC and Mr.
On Monday, Digital World said regulators were investigating. They aren’t supposed to have a deal lined up before selling shares. Blank-check companies like Digital World, also called special purpose acquisition companies, or SPACs, sell their shares to investors first and then go looking for a business to merge with.
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