Federal securities regulators and a federal jury in New York have summoned former President Trump’s social media company as part of their investigation into the pending agreement to be made public through a blank check company called Digital World Acquisition Corp., according to a revelation on Friday.
The big picture: Some current and former members of the Trump Media & Technology Group were also summoned, but no specific individual names were revealed.
Why it’s important: The investigation continues to expand and may delay or prevent TMTG from being published.
- Summonses were previously issued for members of the blank check company.
- The question is whether Digital World Acquisition had merger talks with Trump Media before its own listing, which would have violated the Securities Act.
- Trump Media runs the Truth Social app, led by former Representative Devin Nunes (R-Calif.). It also has ambitions to expand to video and other media.