- Trump SPAC Digital World Acquisition ( NASDAQ: DWAC ) threatened on Wednesday to sue the Securities and Exchange Commission over the delay for its deal to take Trump's social media company public.
- “The SEC has stalled its review of our planned merger with DWAC, having failed to act despite DWAC having filed its registration statement more than four months ago," DWAC said in a filing on Wednesday. "This inexcusable obstruction, which directly contradicts the SEC’s stated mission, is damaging investors and many others who are simply following the rules and trying to expand a successful business. In light of the obvious conflicts of interest among SEC officials and clear indications of political bias, TMTG is now exploring legal action against the SEC. Despite the increasing weaponization and politicization of government agencies, Truth Social will continue its expansion plans, supported by the unprecedented levels of user engagement on the platform.”
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Trump SPAC Digital World threatens to sue SEC over merger delay