Media
U.S. border agency fires 4, suspends 38 for social media posts – CBC.ca
The U.S. Border Patrol’s parent agency said Friday it fired four employees and suspended 38 others without pay for inappropriate social media activity following revelations of a secret Facebook group that mocked members of Congress and migrants.
The investigation began in July 2019 after posts surfaced in a Facebook group called “I’m 10-15.” The posts questioned the authenticity of images of a migrant father and child dead on the banks of the Rio Grande River and depicted doctored images of Rep. Alexandria Ocasio-Cortez purporting to perform a sex act on President Donald Trump.
Customs and Border Protection said another 33 employees were disciplined with reprimands or counselling. Of 138 cases investigated, 63 were deemed unsubstantiated. Six cases remained open to investigation Wednesday.
The agency said the disciplinary actions, first reported by the Los Angeles Times, addressed violations of its standards of conduct and behaviour that is “contrary to our core values of vigilance, service to country, and integrity.”
The Facebook 10-15 group, which had 9,500 members and is named for someone in Border Patrol custody, included graphic posts that referred to Ocasio-Cortez and Rep. Veronica Escobar as “hoes.”
A news story about a 16-year-old Guatemalan boy who died in Border Patrol custody elicited a response from one group member, “If he dies, he dies.” Another member posted a GIF of the Sesame Street character Elmo with the quote, “Oh well.”
1. I’m one of the Latina members of Congress targeted by the hateful attacks & never received investigation results from <a href=”https://twitter.com/CBP?ref_src=twsrc%5Etfw”>@CBP</a>.<br><br>2. The posts shouldn’t have just triggered firings but also an investigation into why other members never reported it.<br><br>3. <a href=”https://twitter.com/Facebook?ref_src=twsrc%5Etfw”>@Facebook</a> is a cesspool.
—@vgescobar
Escobar, a Texas Democrat, said on Twitter that the investigation should have addressed why other group members didn’t report the activity. She said the posts mocked “vulnerable people dehumanized by a broken system” and that Facebook is a “cesspool.”
New York
CNN
—
Trump Media, the parent company of the former president’s Truth Social, alerted Nasdaq Inc. on Thursday of what the company suspects is illegal activity driving down the price of its shares.
In a letter to the exchange, Devin Nunes, the CEO of Trump Media (DJT), laid out what he believes could be deemed “naked” short selling.
Naked short selling involves someone selling shares they don’t own or have not borrowed. They will often then try to buy shares at a reduced price to cover themselves. This practice is generally illegal. Whereas legitimate short sellers, people who seek to benefit from declines in the value of a company’s shares, borrow the shares before selling.
The letter was made public Friday in a filing with the Securities and Exchange Commission.
Nunes also noted in the letter that shares of the company were on a list the Nasdaq maintains that’s “indicative of unlawful trading activity.”
“This is particularly troubling given that “naked” short selling often entails sophisticated market participants profiting at the expense of retail investors,” he said.
Representatives from Nasdaq and Trump Media did not immediately respond to requests for comment.
The company, which is majority-owned by former President Donald Trump, is down by around 50% from the all-time high it set on March 26, the day after it merged with a blank-check acquisition company to go public.
Shares of company have been on a wild ride since.
Although the company is still worth billions of dollars, it is struggling to make money and needs cash. Experts have warned investors to be careful if they choose to trade the stock, because the company doesn’t have the fundamentals to back up its sky-high valuation.
Trump Media lost $58 million in 2023 and made just $4.1 million in revenue.
Shares of the company ended Friday’s session about 9.6% higher.
This story has been updated with additional developments and context.
CNN’s Nicole Goodkind contributed to this report.
Trump Media & Technology Group said it will issue millions more shares, sending its stock plunging again.
The company behind former President Donald Trump’s Truth Social platform said in a Securities and Exchange Commission filing that it is registering the resale of up to almost 21.5 million new shares of common stock issuable upon the exercise of warrants, up to about 146 million shares of common stock, and up to about 4 million warrants to purchase common stock. Certain shares held by insiders may still be restricted from trading until the expiration of a lock-up agreement 5-6 months after the date of the IPO.
New York
CNN
—
Trump Media, the parent company of the former president’s Truth Social, alerted Nasdaq Inc. on Thursday of what the company suspects is illegal activity driving down the price of its shares.
In a letter to the exchange, Devin Nunes, the CEO of Trump Media (DJT), laid out what he believes could be deemed “naked” short selling.
Naked short selling involves someone selling shares they don’t own or have not borrowed. They will often then try to buy shares at a reduced price to cover themselves. This practice is generally illegal. Whereas legitimate short sellers, people who seek to benefit from declines in the value of a company’s shares, borrow the shares before selling.
The letter was made public Friday in a filing with the Securities and Exchange Commission.
Nunes also noted in the letter that shares of the company were on a list the Nasdaq maintains that’s “indicative of unlawful trading activity.”
“This is particularly troubling given that “naked” short selling often entails sophisticated market participants profiting at the expense of retail investors,” he said.
Representatives from Nasdaq and Trump Media did not immediately respond to requests for comment.
The company, which is majority-owned by former President Donald Trump, is down by around 50% from the all-time high it set on March 26, the day after it merged with a blank-check acquisition company to go public.
Shares of company have been on a wild ride since.
Although the company is still worth billions of dollars, it is struggling to make money and needs cash. Experts have warned investors to be careful if they choose to trade the stock, because the company doesn’t have the fundamentals to back up its sky-high valuation.
Trump Media lost $58 million in 2023 and made just $4.1 million in revenue.
Shares of the company ended Friday’s session about 9.6% higher.
This story has been updated with additional developments and context.
CNN’s Nicole Goodkind contributed to this report.
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