Sen. Elizabeth Warren is calling for the Securities and Exchange Commission to investigate the planned deal between former President Trump’s new media company and a special-purpose acquisition company, or SPAC.
She is alleging the tie-up could “run afoul of SEC rules.”
Digital World Acquisition Corp. plans to take Trump Media and Technology Group public, it announced last month, through the SPAC deal.
On Thursday, Warren sent SEC Chair Gary Gensler a letter, calling for him to look at whether Digital World officials and Trump “may have committed securities violations by holding private and undisclosed discussions about the merger as early as May 2021, while omitting this information in U.S. Securities and Exchange Commission (SEC) filing and other public statements.”
SPACs, or special-purpose