Shares in Trump Media slump after former president convicted in hush money trial

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Business,U.S. News,Donald Trump

Shares of Trump Media & Technology Group, the owner of social networking site Truth Social, have slumped after former President Donald Trump was convicted in his hush money trial.

Former President Donald Trump returns to the courthouse moments before hearing that the jury had a verdict in his criminal trial at Manhattan Criminal Court, Thursday, May 30, 2024, in New York. of falsifying business records in a scheme to illegally influence the 2016 election through hush money payments to a porn actor who said the two had sex.Trump Media's stock was down about 9% in after-hours trading Thursday as news of the verdict emerged.

Trump Media had previously cycled through at least two other auditors — one that resigned in July 2023, and another that was terminated by its board in March, just as it was re-hiring BF Borgers. Trump was charged with 34 counts of falsifying business records at his company in connection with an alleged scheme to hide potentially embarrassing stories about him during his 2016 Republican presidential election campaign.to silence her claims of an extramarital sexual encounter with Trump in 2006. Trump was accused of misrepresenting Cohen’s reimbursements as legal expenses to hide that they were tied to a hush money payment.Copyright 2024 The Associated Press. All rights reserved.

 

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