Shares of Digital World Acquisition, the SPAC that has been trying to take Donald Trump’s media company public for 2 1/2 years, were down nearly 8% in late-morning trading today as news broke that the ex-president lost his immunity claim in a federal appeals court.
The three judges found unanimously that Trump is not protected from criminal prosecution for alleged crimes committed during his presidency.
In its ruling that Trump does not have presidential immunity in the Jan. 6 case, the appellate court said his immunity claims would reject “the most fundamental check on executive power.”
