Governor Ron DeSantis, ‘Florida is going to hold Twitter’s board of directors accountable for breaching its fiduciary duties’

Bloomberg’s reported:

Florida Governor Ron DeSantis said the state could take action against Twitter Inc. for launching a poison pill defense to thwart an unsolicited bid by Elon Musk.

“Why would you reject the 20% premium?” DeSantis said Tuesday at a press conference, accusing the company of censorship. “I don’t think that was a rejection based on financial concerns or business judgment. They rejected it because they know they can’t control Elon Musk. They know that he will not accept the narrative.”

Read more.

Watch Governor DeSantis explain how the Sunshine state will hold Titter’s Board of Directors accountable:

The Governor has a fiduciary responsibility to insure that Florida’s pension fund, and the companies the pension fun has invested in, increase the value of their stock to keep the fund solvent. Twitter’s stock has not performed well and dropped 10% on April 20th, 2022.

Twitter Financials

Quarterly financials
(USD) Dec 2021 Y/Y
Revenue 1.57B
Net income 181.69M
Diluted EPS 0.21
Net profit margin 11.59%

©Dr. Rich Swier. All rights reserved.

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