Trump Media head calls SEC out for 'BS', demands quick approval of merger
"The SEC has needlessly delayed its review of our proposed merger, causing real and unnecessary financial harm to DWAC investors."
Trump Media & Technology Group CEO Devin Nunes on Thursday derided the Securities and Exchange Commission for interfering in its merger with Digital World Acquisition Corp.
In a Truth Social post, Nunes said "NO MORE BS!" and included a link to the company's statement on the matter.
"The SEC has needlessly delayed its review of our proposed merger, causing real and unnecessary financial harm to DWAC investors, roughly 90 percent of whom are small, retail shareholders whom the SEC is chartered to protect," the statement reads.
"Despite its standard practice to provide comments within 30 days, the SEC has failed to give meaningful feedback on DWAC’s registration statement for a stunning 115 days and counting. In the interests of simple fairness, the SEC needs to set aside any improper political considerations and bring its review to a swift conclusion," it concluded.
Digital World announced its board members had received subpoenas in June, amid probes from the SEC and Department of Justice into the merger. The merger would put the company on track for public trading.
Earlier this week, Trump Media told Just the News it would "continue cooperating with all stakeholders in connection with its planned merger, and hopes the SEC staff will expeditiously conclude its review free from political interference."
Rumors previously circled that Truth Social and its parent company, Trump Media, were experiencing financial difficulties, but the company denounced that notion as "knowingly false bar talk" in June.