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“The company has elected to file an appeal of this matter, pay the corresponding fee, and plans to pay any fees the Hearing Department determines are due,” Digital World said in a filing.
Digital World has already been facing delays in closing the deal to take Truth Social public due to investigations on whether the Trump-backed company broke securities regulations and the departure of top executives.
The deal was inked in October 2021 and late last year, shareholders approved extending the deadline to close the deal to September 2023.
Around that time, the company’s chief financial officer and two independent directors left.
