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Word of Trump's social media deal said to have leaked months in advance -NY Times

Stock Markets
Published Jul 18, 2022 06:23PM ET Updated Jul 19, 2022 11:47AM ET
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© Reuters. FILE PHOTO: The Truth social network logo is seen on a smartphone in front of a display of former U.S. President Donald Trump in this picture illustration taken February 21, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) -Employees at a Miami investment firm had learned of a pending merger deal between former President Donald Trump's social media company and a blank-check entity long before it was announced, the New York Times reported on Monday, citing three people familiar with the discussions.

Officials of the firm, Rocket One Capital, at the time talked about ways to profit off the soon-to-be-announced transaction with Trump Media & Technology Group by investing in the special purpose acquisition company, or SPAC, Digital World Acquisition Corp (DWAC), the Times reported https://nyti.ms/3ILscSe, citing two of the people.

"Mr. Shvartsman and Rocket One Capital intend to fully cooperate in the investigations. Any assertion that Mr. Shvartsman or Rocket One Capital had any advance knowledge of the potential transactions contemplated by DWAC is categorically false," a lawyer representing Rocket One's founder Michael Shvartsman said in an email to Reuters.

Trump Media did not immediately respond to Reuters' request for comment.

Federal prosecutors and regulators are now investigating the merger, including the frenzied trading in the SPAC's warrants, the report said, citing people familiar with the investigation and public disclosures.

Trump Media & Technology Group, the creator of social media platform Truth Social, agreed to merge with Digital World on Oct. 20. The deal was expected to close by the second half of this year.

Digital World shares soared as much as 350%, a day after the deal was made public.

Word of Trump's social media deal said to have leaked months in advance -NY Times
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Comments (5)
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First Last Jul 19, 2022 12:13PM ET
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Swampy!
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First Last Jul 19, 2022 12:13PM ET
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Can't be trusted with an ipo, can't be trusted as next potus nor to exit office at end of term.
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Keith Wilson
Keith Wilson Jul 19, 2022 12:13PM ET
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Nomination for D UM BEST post ever.
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richard canlione
richard canlione Jul 19, 2022 12:05PM ET
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too often times the info leakage is purposeful...purpose equals profit
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richard canlione
richard canlione Jul 19, 2022 12:03PM ET
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intransigent's... all of you... is it that difficult to read the writing on the wall 🤨
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First Last Jul 19, 2022 12:03PM ET
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Some people believe what is true and some believe what they want to believe.
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Keith Wilson
Keith Wilson Jul 19, 2022 12:03PM ET
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LETS GO BRANDON!!
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Donald Roberts
Donald Roberts Jul 19, 2022 11:23AM ET
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seriously you write like a Chinese propagandist.....toeing the party line.... seriously how does a news paper can be called a propagandist......or you just fancied bthe word .....of the day
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James Pattison
James Pattison Jul 18, 2022 10:12PM ET
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Cant believe the ny times… they are full propagandists…
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