NEW YORK, Nov. 01, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Digital World Acquisition Corp. (“DWAC” or the “Company”) ( DWAC; DWACW). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether DWAC and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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. On this news, DWAC’s stock and warrant prices fell sharply during intraday trading on November 1, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980