An investigation for investors in Digital World Acquisition Corp. (DWAC, DWACW) shares over potential securities laws violations by Digital World Acquisition Corp. was announced.
San Diego, CA -- (SBWIRE) -- 11/19/2021 -- An investigation was announced concerning possible violations of securities laws by Digital World Acquisition Corp. and certain of its directors and officers in connection with certain financial statements.
Investors who purchased shares of Digital World Acquisition Corp. (DWAC, DWACW), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether certain statements by Digital World Acquisition Corp. (DWAC, DWACW regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On October 29, 2021, The New York Times published an article entitled "Trump's $300 Million SPAC Deal May Have Skirted Securities Laws." The article reported that Donald J. Trump's efforts to take Trump Media & Technology Group public via a merger with DWAC, a special purpose acquisition company ("SPAC"), involved discussions of a merger with DWAC's founder before DWAC itself went public. These discussions may have violated federal securities laws, which prohibit SPACs from planning mergers before conducting their initial public offerings.
NASDAQ: DWAC shares declined from $74.81 per share on October 29, 2021, to $60.50 per share on November 1, 2021, and NASDAQ: DWACW shares declined from $38.58 per share on October 28, 2021, to $26.06 per share on November 1, 2021.
Those who purchased shares of Digital World Acquisition Corp. (DWAC, DWACW) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.