Trump Media and Technology Group, the group behind the Truth Social media platform, denied a Florida newspaper’s report that the former president had been removed from the company’s board.
Calling it “fake news,” Trump media emphatically denied the report in the the Sarasota Herald-Tribune.
"Contrary to an 'exclusive' fake news story filed by a reporter who is incapable of understanding state business records, Donald Trump remains on the board of Trump Media and Technology Group. In fact, the reporter acknowledges that Trump's title is 'chairman,' but apparently has no clue what a chairman presides over. Hopefully this helps clarify things," a statement from the company read.
The Herald-Tribune also claimed former White House staffers Kash Patel and Scott Glabe were also among the six board members removed on June 8, just three weeks before the Securities and Exchange Commission served the company with subpoenas.
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.
When the TMTG and DWAC deal was announced in October, it led to a brief trading frenzy that sent DWAC's stock price from $10 to $175. DWAC has since retreated back to $24, upon news that first emerged in December of the SEC's investigation of the deal.
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