Trump Media & Technology Group Corp has recently made significant changes to its accounting team, with BF Borgers CPA PC being replaced by Semple, Marchal & Cooper, LLP. This change became effective on May 3rd, after the company’s audit committee consulted on the decision in light of charges brought by the Securities and Exchange Commission (SEC) against BF Borgers and its owner, Benjamin F. Borgers. These charges related to audits and reviews of over 1,500 SEC filings conducted between January 2021 and June 2023. As a result, BF Borgers has agreed to pay a $12 million civil penalty to settle the charges, while Benjamin Borgers has agreed to pay a $2 million civil penalty.
In addition to the change in accounting firms, Trump Media CEO Devin Nunes has accused certain brokerage firms of potential stock manipulation and anomalous trading. In April, Trump Media raised concerns about suspected short-selling activities in its shares in a letter to Nasdaq. This comes after DJT shares are currently trading higher by 3.83% at $49.76.
Overall, these recent developments highlight the ongoing challenges and changes within Trump Media & Technology Group Corp as it navigates through various regulatory and market-related issues in the public eye. The company continues to face scrutiny from regulators and investors alike as it seeks to maintain its position as a leading player in the media industry.