Trump SPAC shares plunge on grand jury subpoena news

Trump SPAC shares plunge on grand jury subpoena news

Trump's dilemma: Truth Social or Twitter?ReplayMore Videos ... (16 Videos)Trump's dilemma: Truth Social or Twitter?Beyoncé's single dubbed anthem for 'Great Resignation'YouTube removes video from Jan. 6 committeeTikTok 'healthy Coke' has the internet gaggingSnapchat CEO surprises Otis College's newest graduates by paying off their student loansHear Elon Musk's plans for Trump's Twitter banFacebook's parent company has a brick and mortar store. See what's inside'This is where dope Black culture is': Inside Atlanta's influencer houseBill Gates: Elon Musk 'could make Twitter worse'Analyst: Musk leveraging Tesla stock to buy Twitter is like swapping sushi for a hot dogLate night hosts joke about Musk's Twitter takeoverElon Musk set to purchase Twitter for $44 billionWatch: A YouTuber crashed his plane. The FAA said he did it on purposeMother describes son's social media addiction that 'led to his death'Watch late night hosts mock Elon Musk's offer to buy TwitterElon Musk calls for 'free speech' on TwitterNew York (CNN Business)Plans to make former president Donald Trump's media company public appear to have hit another roadblock.

Digital World Acquisition Corp. — the special purpose acquisition company (SPAC) that has agreed to merge with Trump Media & Technology Group — said in a regulatory filing Monday that its board members have received subpoenas from a federal grand jury in the Southern District of New York related to due diligence regarding the deal.Trump is weighing whether to announce a 2024 bid before the midterms. Advisers are divided on that timingShares of the blank-check company plunged nearly 10% on the news Monday. The stock has now lost more than half its value this year, adding to doubts about the merger going through.The Securities and Exchange Commission has already subpoenaed Digital World itself requesting similar information.Digital World also announced in the SEC filing that one of its directors, Bruce Garelick, informed the company that he was resigning effective June 22. Read MoreThe company said Garelick's resignation was not the result of any disagreement with Digital World's operations, policies or practices." Yet the filing also said the subpoenas sought information regarding "communications with or about multiple individuals, and information regarding Rocket One Capital" — a Miami-based venture firm where Garelick is chief strategy officer.Trump Media & Technology Group (TMTG) owns Truth Social, the Twitter-like app that Trump now uses following his ban from Twitter (TWTR) and Facebook (FB) in January 2021 after the violence at the Capitol.Trump's Truth Social off to a rocky start as errors plague the appReplayMore Videos ...

Trump's Truth Social off to a rocky start as errors plague the app 04:06The company said in a statement Monday that "TMTG is focused on reclaiming the American people's right to free expression. Every day, our team works tirelessly to sustain Truth Social's rapid growth, onboard new users, and add new features."TMTG added that "we encourage — and will cooperate with — oversight that supports the SEC's important mission of protecting retail investors."

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