Warren calls for investigation into planned Trump SPAC deal

[Right_in_Virginia]

Warren calls for investigation into planned Trump SPAC deal
The Hill, Nov 18, 2021

Sen. Elizabeth Warren (D-Mass.) on Wednesday called on the Securities and Exchange Commission (SEC) to open an investigation into the planned deal between former President Trump’s new media and technology company and a Special Purpose Acquisition Company, or SPAC.

In a letter to SEC Chairman Gary Gensler, Warren said Trump’s company “may have committed serious securities violations by holding private and undisclosed discussions about the merger as early as May 2021,” which was before the deal was announced.

Trump announced last month that he was launching a new social media network, dubbed “Truth Social,” while also revealing that his Trump Media & Technology Group had entered into a merger agreement with Digital World Acquisition Corp (DWAC), a SPAC. The blank-check company was established in December.


More:  https://thehill.com/homenews/senate/582223-warren-calls-for-investigation-into-planned-trump-spac-deal

[Right_in_Virginia]

JMO, but the establishment is more terrified of Trump now than when he was POTUS and they will harass him until the day he quits or dies.

[Kamaji]

That is just abusive.  All SPACs get reviewed by the SEC in any event, because the whole point of a SPAC is to indirectly take an existing private company public by causing the SPAC to register its stock for public trading and then merge with the existing private company, with the SPAC the continuing entity.  The SPAC uses its publicly traded stock to raise money for acquisitions, and then acquires one or more existing private companies.

[EdinVA]

Trump is a private citizen.... try again Pocahontas...