Trump Media merger partner DWAC settles with SEC over fraud charges


Former U.S. President and Republican presidential candidate Donald Trump speaks at a campaign event in Council Bluffs, Iowa, July 7, 2023.

Scott Morgan | Reuters

WASHINGTON — The Securities and Exchange Commission announced Thursday that it had settled fraud charges with Digital World Acquisition Corp., the company that is seeking to take former President Donald Trump’s social media venture public.

The announcement came less than a month after the SEC charged three Florida men with insider trading of DWAC stock before it announced plans to merge with Trump Media and Technology Group.

Shares of DWAC rose 30% in extended trading following the SEC announcement.

This is breaking news. Please check back for updates.


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