List of All Articles with Tag 'eppersons'

The Securities and Exchange Commission announced that it had settled fraud charges with the financial firm tied to former president Donald Trump’s Truth Social platform, Street Insider reported. The SEC had accused Digital World Acquisition Corporation (DWAC), a special purpose acquisition company, of making material misrepresentations in forms it filed with the SEC as part of its initial public offering and its proposed merger with Trump Media & Technology Group Corp (TMTG), which Mr Trump founded. DWAC had misled both the SEC and investors when it failed to disclose that it had formulated a plan to acquire and was pursuing the acquisition of TMTG. Special purpose acquisition companies are meant to identify and acquire operating businesses. But the SEC said in the forms DWAC filed to support its IPO in September 2021, neither it nor its officers had said it had discussions with any target companies before its IPO. But the SEC’s order found that the person who would become DWAC’s chief executive and board chairman, along with other people, had extensive special purpose acquisition company meetings with Mr Trump’s company, and that the executive had pursued talks with TMTG for another special purpose acquisition company he created. In turn, the SEC called DWAC’s Form S-1 false and misleading. “DWAC failed to disclose its discussions with TMTG and failed to disclose a material conflict of interest of its CEO and Chairman,” Gurbir S Grewal, the director of the SEC’s enforcement division. “In the context of a SPAC – a ‘blank-check’ entity without business operations – these disclosure failures are particularly problematic because investors focus on factors such as the SPAC’s management team and potential merger targets when making financial decisions.” The SEC said that DWAC violated antifraud provisons of security laws. It had previously announced that it would pay an $18m settlement in the event it closes a merger transaction and it would sign a cease and desist order. Last month, federal authorities arrested Michael Shvartsman, Gerald Shvartsman and Bruce Garelick and the three were named in an unsealed federal indictment. The all pleaded not guilty to insider dealing at a court in New York City this month. Read More Truth Social’s merger partner reaches $18m settlement with SEC

By Trevor Hunnicutt WASHINGTON U.S. President Joe Biden asked a group of aides to explore "all legal and

President Xi Jinping’s attack on China’s after-school tutoring industry was meant to ease the burden on households. But

The NFL says Washington Commanders owner Dan Snyder sexually harassed a team employee and oversaw team executives who deliberately withheld millions of dollars in revenue from other clubs

Dan Snyder's controversial tenure as owner of the Washington Commanders ended Thursday as NFL clubs unanimously approved the sale of the club to a...

Does an under-discussed CBA provision give the Philadelphia 76ers the leverage they need in to keep James Harden or get what they want in return?Another day, another chapter in the Sixers-Harden Cold War develops.The two sides — primarily Sixers President of Basketball operations Daryl...

Yankees third baseman Josh Donaldson was transferred to the 60-day injured list, a decision that means he can’t play until Sept. 14, at the earliest

By Jamie McGeever A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.

A man who worked as a politically appointed State Department official in former President Donald Trump’s administration has been convicted of charges that he attacked police officers during the Capitol riot on Jan. 6, 2021

ATLANTA (AP) — Austin Riley hit a three-run homer off Miguel Castro in the eighth inning, and the major league-leading Atlanta Braves stopped a four-game skid with a 7-5 victory over the Arizona Diamondbacks on Thursday.

Daniel Snyder is gone, and fans of the Washington Commanders have taken to the Twitter streets to pop champagne, hug each other, and express relief.He's gone! That's the unanimous feeling of fans of the Washington Commanders, thanks to the news they always wanted to hear about owner Da...

Florida's board of education has approved new guidelines for teachers on how Black American history should be taught