Former President Donald Trump’s social media company, Trump Media & Technology Group, threatened on Wednesday to sue the Securities and Exchange Commission over the delayed merger with SPAC Digital World Acquisition (NASDAQ:DWAC).
“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,” TMTG said in a regulatory filing.
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,” TMTG said in the filing. “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.”
Source: Trump’s social media company threatens to sue SEC over delayed DWAC SPAC deal | Seeking Alpha