Truth Social CEO Devin Nunes gave up his political career to head former President Donald Trump's platform, which is pretty much a ripoff from Twitter. And it's not doing very well. Aside from the fact that their ads are amateurishly weird, they likely can't get advertisements that pay better because the site is teeming with racism, sexism, and conspiracy theories. Also, there are a lot of flat earthers there. It's like walking into the Twilight Zone.
Nunes appeared on Newsmax (the network that is being sued by Dominion Voting Systems) to complain that investors with the platform "are being wiped out" by the SEC, blocking them from going public. However, it appears that they violated some securities laws.
"There's a major scandal that's brewing at the SEC, their willingness to play politics and discriminate against people who, like our little company, our startup company, you know, we want to go public," Nunes said.
"We want to merge with the company," he added. "The shareholders that bought into that finance company, Chris, are being wiped out."
Via Politico in November:
The planned merger between Trump Media & Technology Group and Digital World Acquisition Corp. — a so-called blank check company that intends to take Trump's startup public — has attracted regulatory scrutiny because of concerns that it potentially violated rules designed to keep investors informed.
"We're in uncharted territory," New York University law professor Michael Ohlrogge said. "There is credible reason to believe that they violated some securities laws in how they struck the deal. The question then is how the SEC responds."
Cry more, Devin. Go sue a fake cow or something. Trump is used to doing things his way, which usually gets everyone involved in trouble sooner or later. He should have known better, but no one has ever accused Nunes of being smart.
H/T: Ron Filipkowski
