Trump Media Warns Of 'Material Weakness' In Financial Controls

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Trump Media Warns Of 'Material Weakness' In Financial Controls

//media-entertainment.news-articles.net/content/ .. -of-material-weakness-in-financial-controls.html

Published in Media and Entertainment on Saturday, May 10th 2025 at 11:04 GMT by Forbes
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

The company behind Truth Social acknowledged internal control flaws that could lead to "material misstatements" on its financial disclosures.

In a recent SEC filing, Trump Media & Technology Group, the parent company of Truth Social, disclosed a "material weakness" in its internal controls over financial reporting, which could lead to misstatements in its financial statements. The filing revealed that the company's accounting department lacks sufficient experience and that there are inadequate written policies and procedures. This disclosure comes at a time when the company is already facing challenges, including a significant drop in its stock price and ongoing investigations by the SEC and the Department of Justice. The material weakness could further erode investor confidence and complicate the company's efforts to raise capital and expand its operations.

Read the Full Forbes Article at:
[ https://www.forbes.com/sites/zacheverson/2025/05/10/trump-media-truth-social-donald-material-weakness-sec-filing/ ]

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Trump Media Warns Of 'Material Weakness' In Financial Controls