The SEC charged Cantor Fitzgerald $6.75 million for systematic disclosure violations in two SPAC transactions involving View, Inc. and Satellogic. The firm misled investors by claiming no substantive discussions with merger targets existed, despite already negotiating potential mergers. This …
Securities and Exchange Commission (SEC)Cantor FitzgeraldHoward LutnickView, Inc.Satellogicspac-frauddisclosure-violationssec-enforcementcantor-fitzgeraldhoward-lutnick+3 more
The Securities and Exchange Commission files a federal lawsuit against Patrick Orlando, former CEO and Chairman of Digital World Acquisition Corporation, alleging securities fraud in connection with DWAC’s initial public offering and proposed merger with Trump Media. The SEC alleges Orlando …
Securities and Exchange Commission (SEC)Patrick OrlandoDigital World Acquisition CorpTrump Media & Technology Groupsec-lawsuitpatrick-orlandosecurities-frauddwactrump-media+1 more
The Securities and Exchange Commission announced settled fraud charges against Digital World Acquisition Corp (DWAC) for material misrepresentations to investors about merger discussions with Trump Media & Technology Group (TMTG). The SEC found that individuals who would later become …
Securities and Exchange Commission (SEC)Digital World Acquisition CorpTrump Media & Technology Groupsec-chargesdwacsecurities-fraudtrump-mediaspac-fraud+1 more
Digital World Acquisition Corp (DWAC) terminated CEO Patrick Orlando’s employment, citing “unprecedented headwinds” that necessitated a leadership change. The board appointed Eric Swider as interim CEO after investigations by the SEC and federal prosecutors into potential …
Patrick OrlandoDigital World Acquisition CorpDWACTrump Media & Technology GroupSecurities and Exchange Commission (SEC)+1 moredwacpatrick-orlandotruth-socialspac-fraudsec-investigation+2 more
The SEC settled fraud charges against Nikola Corporation for $125 million, finding the electric vehicle company made materially false and misleading statements about its products, technical capabilities, and partnerships during its 2020 SPAC merger. Founder Trevor Milton falsely claimed the Nikola …
Securities and Exchange Commission (SEC)Nikola CorporationTrevor MiltonVectoIQ Acquisition Corp (SPAC)spac-fraudelectric-vehiclessec-enforcementmaterial-misrepresentationretail-fraud+2 more
Digital World Acquisition Corp (DWAC), a special purpose acquisition company, announced its agreement to merge with Trump Media & Technology Group Corp (TMTG), bringing Trump’s Truth Social platform public. The announcement triggered massive trading volume and price volatility, with DWAC …
Donald TrumpDigital World Acquisition CorpTrump Media & Technology GroupSecurities and Exchange Commission (SEC)Bruce Garelick+1 morespac-fraudtruth-socialdwacregulatory-capturetrump-media+1 more