Digital World now has more time to close its proposed union with Trump Media. But with Twitter welcoming Mr. Trump back, his media company could...

The ruling is the latest twist in an ongoing battle that Nelson Partners Student Housing has waged with investors and students.

Lawyers for Digital World recently told regulators that the SPAC had not violated any rules by talking to Trump Media before going public.

Shares of the SPAC trying to merge with Donald Trump’s social media company rose on Thursday after the decision.