More updates coming, like stepping from Mueller frying pan into the pump & dump fire. Because running a media company is like running a California dairy farm in Iowa. Trumpian loyalty rewards Omertà.
JUST IN: GOP Rep. Devin Nunes resigns from Congress to become CEO of Trump's media company cnbc.com/2021/12/06/gop…
Rep. Devin Nunes (R-CA) will not seek reelection in 2022, KMJ Radio has reported. He will resign from Congress at the end of December, he said in a statement.
Nunes, 48, has served in the House since 2003 and is the ranking member of the House Intelligence Committee. He has been staunch ally of former president Donald Trump.
Jacqui Heinrich of Fox News suggested that Nunes will become CEO of Trump’s new media organization, Trump Media & Technology Group.
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Wall Street’s top financial regulators are investigating Donald Trump’s $1.25bn deal to float his new social media venture on the stock market, a filing showed on Monday.
Digital World said the SEC asked for documents in early November relating to communications between it and TMTG, meetings of its board, policies and procedures relating to trading, the identification of banking, telephone and email addresses and the identities of certain investors.
The SEC stated in its request that its investigation does not mean that the regulator has concluded that anyone violated the law, Digital World said.
TMTG did not respond to requests for comment.
The Massachusetts senator Elizabeth Warren had asked the SEC to investigate TMTG’s proposed merger with Digital World over potential violations of securities laws, including whether they had sufficiently disclosed when deal talks began.
The SEC declined to comment.
The investigations come amid excitement among Trump supporters and retail investors over the planned deal. Frantic trading of Digital World’s shares has driven TMTG’s valuation from $875m in October to close to $4bn.
Digital World, whose shares were down 1.8% to $44.14 on Monday, said Finra asked for details in late October and early November about “surrounding events”, including a review of trading, that preceded the announcement of the merger.
Finra said in its request its inquiry should not be construed as an indication that any violations of Nasdaq rules or federal securities laws have occurred, Digital World added.
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