Sen. Elizabeth Warren today asked the SEC to investigate possible securities violations in a planned SPAC deal involving former President Donald Trump’s new social media platform, CNBC reports.
Warren, a Massachusetts Democrat, in a letter to SEC Chairman Gary Gensler noted recent news reports that Digital World Acquisition Corp., which last month announced plans to merge with Trump’s company, “may have committed securities violations by holding private and undisclosed discussions about the merger as early as May 2021, while omitting this information [SEC) filing and other public statements.”
Warren also wrote, “The reports about DWAC and Trump Media and Technology Group appear to be a textbook example of a SPAC misleading shareholders and the public about materially important information.” Read more.
