Trump Media said it had ‘material weakness’ in internal controls

Quick Summary:

The findings come after the company posted a net loss of $31.7 million for the first quarter, which it ended with cash, cash equivalents and short-term investments of $759 million.

The media group said it implemented remediation measures including hiring additional accounting staff with the required background and knowledge to rectify the issues.

The company carried out an evaluation of its disclosures and controls and found that procedures were not effective, the report said.

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Article Details

Author / Journalist: Ruth Carson, Bloomberg

Category: EconomyBusiness

Markets: United States

Topics: Media Social Media Donald Trump

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-10 @ 14:16:12 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 227 words

Reading Time: 2 minutes read

Sentences: 4 lines

Sentence Length: 57 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 28536130

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About Fortune

Main Topics: EconomyBusiness

Official Website: fortune.com

Update Frequency: 8 posts per day

Year Established: 1929

Headquarters: United States

News Last Updated: 9 hours ago

Coverage Areas: United States

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Publisher ID: #95

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