The Trump Hub
Advertisement Banner
  • Home
  • Conservative
  • Liberal
  • Independent
  • Contact Us
The Trump Hub
No Result
View All Result
Home Independent
Trump Media deal partner DWAC adjourns shareholder meeting for sixth time

Trump Media merger partner loses board member days before meeting

shakespeare by shakespeare
November 17, 2022
in Independent
0
332
SHARES
2k
VIEWS
Share on FacebookShare on Twitter


The Truth social network logo is seen displayed behind a woman holding a smartphone in this picture illustration taken February 21, 2022.

Dado Ruvic | Reuters

A South Florida real estate executive has quit the board of Digital World Acquisition Corp., the blank-check company that agreed to take former President Donald Trump’s media company public, according to a securities filing Wednesday.

Justin Shaner, the CEO of Shaner Properties in the Miami-Fort Lauderdale area, resigned from DWAC’s board of directors Friday, the filing said.

The move came days before DWAC’s shareholder meeting, which is scheduled for Nov. 22. DWAC’s CEO, Patrick Orlando, has adjourned the meeting multiple times in recent months as he seeks shareholder approval to delay his company’s merger with Trump Media and Technology Group, which owns the Truth Social app, by about a year.

The DWAC-Trump Media deal is being investigated by federal prosecutors and regulators. Will Wilkerson, a former Trump Media executive, turned over documents to the Securities and Exchange Commission and filed a whistleblower complaint, claiming misrepresentations by the companies.

DWAC will likely liquidate if the merger deadline isn’t delayed by early December.

Shaner didn’t immediately return a request for comment, nor did DWAC. “The resignation of Mr. Shaner did not result from any disagreement with the Company concerning any matter relating to the Company’s operations, policies or practices,” DWAC said in Wednesday’s filing.

Shaner was a board member on another Orlando-run blank-check company, Benessere Capital Acquisition Corp., which is also under investigation by federal authorities in connection to probes into DWAC. In June, Benessere and some of its directors were subpoenaed by the SEC and a federal grand jury in the Southern District of New York, according to filings.

Benessere said in October that it would liquidate after a merger deal with another company, eCombustible Energy, fell through. Benessere had said the SEC’s probe delayed its registration statement, according to securities filings. Trump Media has also blamed regulators for the delay of its merger with DWAC.

Shares of DWAC fell 16% to $21.29 Wednesday, the day after Trump announced he would run for president in 2024. The stock is well off its high for the year, $101.87, which it hit in March.

Trump himself is under federal criminal investigation, while his main business, the Trump Organization, is on trial in New York.

He founded Truth Social after he was banned from Twitter for his posts on Jan. 6, 2021, when hundreds of his supporters attacked the U.S. Capitol in an ultimately failed attempt to overturn Joe Biden’s victory in the 2020 election. New Twitter owner and CEO Elon Musk has said he would let Trump back on the social network, where the former president had about 88 million followers. He has about 4 million followers on Truth Social.

– CNBC’s Dan Mangan contributed to this report.



Source link

Author:

Previous Post

The GOP’s Hostage Crisis : Delaware Liberal

Next Post

The Biden Administration Is Still Pushing For Their Unconstitutional Student Loan Bailout

shakespeare

shakespeare

Next Post
The Biden Administration Is Still Pushing For Their Unconstitutional Student Loan Bailout

The Biden Administration Is Still Pushing For Their Unconstitutional Student Loan Bailout

Republicans Will End the January 6 Committee. They May Also Investigate It. – Mother Jones

Republicans Will End the January 6 Committee. They May Also Investigate It. – Mother Jones

Nancy Pelosi to step down as House Democratic leader as GOP to take majority

Nancy Pelosi to step down as House Democratic leader as GOP to take majority

Popular Post

    Follow Our Page

    Thetrumphub

    Category

    • Conservative
    • Independent
    • Liberal

    Recent News

    Joe, Step Down And Be President – Conservative View from New Hampshire

    Joe, Step Down And Be President – Conservative View from New Hampshire

    November 29, 2023
    Mark Cuban selling Dallas Mavericks majority stake to Adelson

    Mark Cuban selling Dallas Mavericks majority stake to Adelson

    November 29, 2023

    Copyright Trump Hub 2022. Contact us at [email protected]

    No Result
    View All Result
    • Home
    • Conservative
    • Liberal
    • Independent
    • Contact Us

    Copyright Trump Hub 2022. Contact us at [email protected]