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Trump Media Hires Auditor To Replace Firm Accused Of Fraud

Law 360 M&A

Trump Media and Technology Group Corp. has hired a new auditor, replacing its predecessor firm, which was permanently suspended by securities regulators Friday for alleged "massive fraud" regarding its work with hundreds of clients, according to a filing Monday.

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SEC Fines Trump Media's Audit Firm For 'Massive Fraud'

Law 360 M&A

Securities and Exchange Commission said on Friday that it has fined and permanently suspended the public accounting firm of former President Donald Trump's social media company for allegedly running a "sham auditing mill" by failing to meet industry standards in reviewing the financial statements of hundreds of clients.

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The Holding Foreign Companies Accountable (HFCA) Act: A Critique

Harvard Corporate Governance

Until recently, China prevented the Public Company Accounting Oversight Board from inspecting the China-based auditors of these firms, as required by the 2002 Sarbanes-Oxley Act. W hile China-based firms do pose unique risks to U.S. In 2022, China began allowing PCAOB inspections, averting (at least for now) mass delistings.

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Rumor Mill: Trump-Musk, Icahn-Illumina, Apollo-Paramount

Law 360 M&A

Donald Trump asked Elon Musk to buy Truth Social, Carl Icahn drops latest Illumina board Challenge but presses on with lawsuit, and PE firm Apollo is still eyeing Paramount. Here, Law360 breaks down the notable deal rumors from the past week.

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Donald Trump Linked SPAC Deal May Be Facing Another Setback, Unpaid Bills Could Be Mounting Up

Benzinga

A SPAC set to take former President Donald Trump’s new media company public could be facing another setback. The SPAC failed to pay proxy firm Saratoga Proxy Consulting which helped solicit votes from public shareholders. Here’s the latest. The amount owed is said to be six figures.

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Experts Think Trump's Threat To Block Nippon-US Steel Deal Could Have Bigger Consequences For Japan: 'We Thought We're Completely Aligned Countries'

Benzinga

Donald Trump’ s recent announcement to impede Nippon Steel’s (OTC: NPSCY ) proposed acquisition of United States Steel (NYSE: X ) could have significant implications for Japan. What Happened : Trump’s threat to thwart Nippon Steel’s acquisition of U.S. lawmakers and the United Steelworkers union. .

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The PCAOB Is Missing In Action on Climate Risk

Harvard Corporate Governance

Last year, the SEC replaced all five Trump-era members, with SEC Chair Gary Gensler stating his hope that this would set the PCAOB “on a path to better protect investors by ensuring that public company audits are informative, accurate, and independent.” [1]. The PCAOB (technically a nonprofit corporation, not a U.S.