US Rep. Dan Meuser, R-PA on Tuesday asked that sec
“The SEC's primary mission is to protect investors, maintain fair markets, and facilitate capital formation,” Meuser wrote. “Yet, the current inaction and delay surrounding the DWAC SPAC settlement and S-4 review contradicts these fundamental objectives.”
Digital World Acquisition filed its S-4 registration with the SEC in May 2022 to merge with the Trump-controlled firm, but the SEC investigation has caused the commission to refuse to review the registration. The SPAC recently announced it had reached a tentative $18 million settlement with the regulator, which has been looking into allegations that Digital World and Donald Trump's media company held merger discussions prior to the SPAC's IPO. Read more.