Truth Social’s Merger Partner Settles With SEC For $18 Million

A financial firm linked to Donald Trump’s Truth Social platform has reached an $18m settlement with the Securities and Exchange Commission (SEC) in order to bring an end to the investigation into its merger with the company.

Digital World Acquisition Corp (DWAC) announced the tentative settlement on Monday, saying that the payment would “remove the cloud of uncertainty lingering over DWAC and would allow DWAC to move forward in achieving its objective of delivering a strategic merger”.

The SEC had been looking into whether DWAC held talks with Truth Social’s parent company before going public, which would be a violation of certain antifraud provisions of the Securities Act and the Exchange Act.

Read more at Yahoo! News.