Donald Trump's social media company and some of its employees received subpoenas from both a federal grand jury and securities regulators, according to a public disclosure Friday, possibly delaying or even killing a deal promising a cash infusion needed to take on Twitter.
Trump Media & Technology Group received subpoenas from a grand jury in New York and the Securities and Exchange Commission, according to a securities document filed by Digital World Acquisition Corp. on Friday. Digital World has plans to buy Trump Media, releasing $1.3 billion for its fledging business, but the deal is unlikely to be done during two legal probes.
