Trump Media & Technology Group Corp (DJT) recently announced that it has replaced BF Borgers CPA PC as its independent registered public accounting firm. This change took effect on May 3rd, with Semple, Marchal & Cooper, LLP being appointed as the new accounting firm. The decision to switch accounting firms was made in consultation with the company’s audit committee.
The SEC charged BF Borgers and its owner, Benjamin F. Borgers, with significant failures to comply with the standards set by the Public Company Accounting Oversight Board (PCAOB). These charges were related to audits and reviews of over 1,500 SEC filings conducted between January 2021 and June 2023. 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.
Trump Media CEO Devin Nunes recently 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.