: Trump left board of his media company ahead of subpoenas, filing shows

United States

Records show Donald Trump left the board of his social-media company, Trump Media & Technology Group, in June, weeks before the company was subpoenaed by authorities.

According to a filing with Florida’s Division of Corporations dated June 8, the former president, his son Donald Trump Jr., Wes Moss, Kashyap Patel, Andrew Northwall and Scott Glabe all left the company’s board of directors. The “board of directors” page on the company’s website was blank as of Thursday night.

The Sarasota (Fla.) Herald-Tribune first reported the departures Thursday.

Trump’s social network, Truth Social, denied the report in a post Thursday, saying Trump remains on the board of Trump Media as its chairman. It did not explain the state filing.

In late June, Trump Media & Technology Group received subpoenas from the Securities and Exchange Commission and a federal grand jury in New York, apparently related its SPAC deal to be acquired by Digital World Acquisition Corp. DWAC, +1.69%, which is expected to be completed in the second half of 2022.

DWAC shares were little changed Thursday, but have sunk 53% year to date, compared to the S&P 500’s SPX, +1.50% 18% decline in 2022.