The MeidasTouch Podcast - Trump Makes FATAL MOVE as Stock PLUNGES

Episode Date: April 13, 2024

MeidasTouch host Ben Meiselas reports on Donald Trump making potentially false and misleading statements about Trump Media as the stock plunges Thanks to HIMS! Start your free online visit today at https://hims.com/meidas for your personalized ED treatment options. Visit https://meidastouch.com for more! Remember to subscribe to ALL the MeidasTouch Network Podcasts: MeidasTouch: https://www.meidastouch.com/tag/meidastouch-podcast Legal AF: https://www.meidastouch.com/tag/legal-af The PoliticsGirl Podcast: https://www.meidastouch.com/tag/the-politicsgirl-podcast The Influence Continuum: https://www.meidastouch.com/tag/the-influence-continuum-with-dr-steven-hassan Mea Culpa with Michael Cohen: https://www.meidastouch.com/tag/mea-culpa-with-michael-cohen The Weekend Show: https://www.meidastouch.com/tag/the-weekend-show Burn the Boats: https://www.meidastouch.com/tag/burn-the-boats Majority 54: https://www.meidastouch.com/tag/majority-54 Political Beatdown: https://www.meidastouch.com/tag/political-beatdown Lights On with Jessica Denson: https://www.meidastouch.com/tag/lights-on-with-jessica-denson On Democracy with FP Wellman: https://www.meidastouch.com/tag/on-democracy-with-fpwellman Uncovered: https://www.meidastouch.com/tag/maga-uncovered Learn more about your ad choices. Visit megaphone.fm/adchoices

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There are a number of securities laws that prohibit this conduct. We previously did a video last week where Donald Trump began engaging in this conduct since the DJT stock went public after the SPAC merger, Donald Trump and his board could become individually liable for billions of dollars in the losses of the stock by making these false or misleading statements by shareholder lawsuits, which could be coming right around the corner. Let's take a look at what Donald Trump just posted as the stock continues to crash. Now, any securities lawyer I would know would tell you this is exactly what you are not allowed to do with publicly traded securities. Trump writes, I am so proud of Truth Social because I believe it represents the Make America Great Again

movement and it shows the spirit and love of our country. If people who believe in putting America first and want to make America great again support truth, we will be your voice like never before. And a real voice is what our country needs because we are in decline and must bring America to greatness. Think of this as a movement, the greatest movement in the history of our country. We are going to save our country and make America great again, greater than ever before.

So right there, if I was the securities lawyer representing shareholders, the language that I would pick out right here is where Donald Trump says, think of this, referring to Truth Social, which is tanking right now, as the greatest movement in the history of our country. So Donald Trump saying a stock that's tanking is the greatest movement in the history of our country is an objectively false and misleading statement that should not be made about a company by its majority shareholder, Donald Trump. Just so you see what Donald Trump is posting as well. You can see the stuff that you're seeing right now on the screen is what Donald Trump posted

in the last hour alone. He is losing his mind, folks, absolutely desperate and trying to pump up this stock as it continues to fall. Peter Henline, a Ron DeSantis supporter, said it best in his most recent post. He said, when Trump and his people get criminally charged for participating in the massive pump and dump scam that is Truth Social stock, it's a guarantee that he and his MAGA influencers will make the following arguments. There were no victims. People should have done their own diligence. No one has ever been charged with market manipulation before. This is communism. I'll tell you, Peter Enlein and these DeSantis supporters understand Donald Trump's pathology pretty damn well. He goes on to say, MAGA will be outraged.

And the ironic thing is going to be that the only people who lost money on this most obvious scam of all time will have been the most loyal of Trump's supporters. And if you've been watching the Midas Touch Network, you know that we've been warning retail investors about this for two years. Once this merger was announced two years ago, we've been saying this is exactly what is going to happen. We talked about other SPACs and how other SPACs have failed, why we thought this SPAC was going to fail magnificently. And then of course, we saw the revenue, the P&L reports that were released in an 8K filing to the SEC showing that in 2023,

Trump media lost $58 million. It only earned $4.1 million in revenue for the entire year of 2023, about $1.2 million in revenue. In the fourth quarter, we've been reporting about all of the lawsuits. Earlier this morning even, we reported about a new lawsuit filed by the founder of the Trump SPAC, accusing a current director of Trump media of engaging in a corporate coup, corporate espionage, and hacking of his computer. We talked about Trump's lawsuit against that founder of the Trump SPAC. We've talked about Trump's lawsuit against the founders of Trump Media trying to take their

8.5% in the company. We've talked about the founders of Trump Media suing Donald Trump. We've talked about the independent auditor BF Borgers from Colorado, who the PCAOB, the entity which regulates accountants who do this work for public companies found a 100% deficiency rate for BF Borgers, Donald Trump's independent auditor. On 21 of 21 files they audited of the auditor. how Trump's own independent auditor, even with all of those deficiencies, found that there was substantial doubt that Trump media could continue to exist as a going business concern because of its massive losses. We talked about, I'm not done yet, we talked about how Trump media was saved by a $6 million loan from some shady family trust associated with a bank called Paxum that had links to Vladimir Putin that lends money to porn websites and companies. And that's how Donald Trump got the $6 million lifeline for Trump media through that entity. We've talked about all of these systemic

and persistent problems with Trump media and Donald Trump continues to pump this thing as shareholders though are running away from this thing fast. Ever feel like you need a little boost in the bedroom? Well, with HIMSS, you'll feel confident knowing that when you get an erection, you can maintain an erection whenever you're in the mood. HIMS is changing men's healthcare by providing access to affordable sexual health treatments from the comfort of your couch. HIMS provides access to doctor-trusted ED treatment options such as chewable hard mints, brand name treatments like Viagra, or generic alternatives

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Under the Securities Exchange Act, Rule 14A-9 was enacted to prohibit false or misleading statements. Rule 14a-9 states, no solicitation shall be made by means of any proxy statement, form of proxy, notice of meeting or other communication, written or oral, containing any statement which at the time and in the light of the circumstances under which it is made is false or misleading with respect to any material fact or which omits to state any material fact necessary in order to make the statements therein not false or misleading. Also, in my opinion, there is a disclosure requirement as well. Donald Trump making these statements as the main shareholder has a materiality requirement where I believe an 8K must be filed. This has to

be attached, in my opinion, to a press release and filed with the SEC because there are rules that you can't provide market information to just a subset of people. You can't say this just to your Trump media people and not divulge it to the public more broadly and more generally. And just so you understand how strict the SEC is about these things, the, in a shareholder lawsuit that was brought before a district court judge, found a company that simply denied accusations brought against it in a lawsuit that made a statement that the lawsuit against them was without merit, that that could constitute a false or misleading public statement without the appropriate disclaimers and without any further

kind of disclosure. So, I mean, look, one of the things about Donald Trump being the lead shareholder and running a publicly traded company is that these are the considerations that now apply to Donald J. Trump and DJT. And as Peter Heinlein, you know, says sarcastically also, of course there are victims. You know, he goes, you know, people should have done their own diligence. He goes, no one has ever been charged with market manipulation before. You know, that's the same argument that Donald Trump makes in the New York attorney general civil fraud case.

Of course, these types of securities lawsuits are brought up. Oh, by the way, when I was giving you the recap of all of those things, how could I forget that some of the initial directors and main shareholders in the Trump SPAC recently pled guilty to insider trading as well. Add that to the other list. That's the one that I forgot. These lawsuits happen every day against publicly traded companies that engage in this.

I'm waiting for that first shareholder lawsuit to be brought against Donald Trump. In my opinion, it's all my opinion. In my opinion, it will be a very strong case. And Trump and his board could be on the hook for billions of dollars in the market loss that they've caused as a result of potentially false or misleading statements. I'm Ben Micellis. This is the Midas Touch Network. Hit subscribe. Let's get to 3 million together. Have a wonderful day. Enough! Send it to the big house, not the White House.

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