Defendant Name:
Digital World Acquisition Corp.
Defendant Type:
Public Company
SIC Code:
6770
CUSIP:
25400Q10
Document Reference:
33-11213
Document Details
Legal Case Name
In the Matter of Digital World Acquisition Corp.
Document Name
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
Document Date
20-Jul-2023
Document Format
Administrative Proceeding
Allegation Type
Securities Offering
Document Summary
On July 20, 2023, the SEC instituted settled cease-and-desist proceedings against Digital World Acquisition Corp., stating: "This matter concerns materially false and misleading statements and omissions by DWAC, a special purpose acquisition company (“SPAC”) that in October 2021 announced an agreement to merge with Trump Media & Technology Group Corp. (“TMTG”), a social media company."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Undertaking: "Respondent undertakes that, should it file an amended Form S-4, any such Form S-4 will be materially complete and accurate and consistent with the findings in this Order."
Monetary Penalties:
Civil Penalty
Individual:
$18,000,000.00
Shared:
