Trump Media and Digital World merged in March, allowing the company behind the Truth Social platform to trade on the Nasdaq under the stock ticker DJT.
The U.S. Securities and Exchange Commission sued the former CEO of the blank-check company that merged with Trump Media.
The SEC accused that ex-CEO, Patrick Orlando, of lying about his firm's plans to combine with Donald Trump's social media startup. Trump Media and Digital World completed their lengthy public merger in March, allowing the company behind the Truth Social platform to trade on the Nasdaq under the stock ticker DJT.Patrick Orlando allegedly lied in public filings when he said his company, Digital World Acquisition Corp.
The SEC asked the court to force Orlando to give up "all ill-gotten gains" as a result of his alleged violations, along with civil penalties and a permanent injunction barring his from engaging in that conduct.Trump Media and Digital World completed their lengthy public merger in March, allowing the company behind the Truth Social platform to trade on the Nasdaq under the stock ticker DJT.
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