Trump Banned For Life? New York Attorney General Seeks Lifetime Real Estate Ban, $370 Million In Fines
Portfolio Pulse from Chris Katje
New York Attorney General Letitia James is seeking a lifetime ban on Donald Trump from the New York real estate industry and to fine him $370 million for alleged financial fraud. The civil lawsuit also targets his two eldest sons and The Trump Organization. James is also seeking a five-year ban for Donald Trump Jr. and Eric Trump from the industry. The case, which did not have a jury, awaits a ruling from Judge Arthur Engoron. Shares of Digital World Acquisition Corp (DWAC), which plans to merge with Trump Media & Technology Group, remained flat amid the news.
January 05, 2024 | 7:52 pm
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Digital World Acquisition Corp (DWAC) shares remained flat despite the news of potential legal repercussions for Trump, who is associated with the company through a planned merger with Trump Media & Technology Group.
While the legal developments could have significant implications for Trump's business activities, the immediate impact on DWAC's stock price was neutral, indicating that investors may have already priced in the ongoing legal issues or are waiting for a concrete outcome before reacting.
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IMPORTANCE 60
RELEVANCE 70