Posted on 04/20/2022 7:41:55 AM PDT by shadowlands1960
Florida Gov. Ron DeSantis is threatening to sue Twitter’s board of directors if it doesn’t take the best buy-out offer from tech billionaire Elon Musk.
DeSantis announced today that because Florida’s pension plan is invested in Twitter, he has standing to sue the board for breaching its fiduciary duty to do what’s best for shareholders.
The Tesla billionaire offered to buy Twitter for $43 billion, but the board of directors activated a “poison pill” to kill the deal.
DeSantis says he’s “looking at ways the state of Florida potentially can be holding these Twitter board of directors accountable for breaching their fiduciary duty.” He says his is not a benign threat because his state owns shares of Twitter. “I didn’t buy it [and] we have people that run the fund,” said the Florida Republican, but he said Twitter has some explaining to do. “[Twitter] hasn’t exactly been great on returns on investment; it has been pretty stagnant for many, many years. To me, I think that is probably an injury to the fund.”
(Excerpt) Read more at pjmedia.com ...
That is my take as well.
welcome back Dr.GasPack
Are you still wearing that mask and recommending the clot-shots?
What would Trump do?
Endorse Dr Oz or something that Jared and Ivanka recommend.
I don’t know the basis of this threat of a lawsuit is about, but in general its not the governments business if a board decides to sell or not sell to someone.
The poison pill does seem to violate Fiduciary Responsibility...so maybe he has a leg to stand on here, but in general this isn’t something I like.
“Trump is also a fighter, but what holds him back is extremely poor personnel decisions and a willingness to trust those who have every intention of stabbing him in the back based on mere protestations of loyalty.”
And he knows who is going to stick the stiletto in his back how? None of his advisors picked up on the lemons amongst them either. Most of the time you don’t know you’ve got a lemon on your hands until well into the game. Trump is not a mind reader.
What was it that Julius Caesar asked of his alleged friend in the Roman Senate as he was being attacked: Et tu Brute?
lol
“The combination of the two men would be synergistic beyond comprehension.”
An excellent analogy if I do say so myself, and I do say so myself.
The basis is the State of Florida owns stock in Twitter, so it’s as a shareholder, not a government entity as such, that they have standing....
Q: Who does this guy think he is? Donald Trump?
A: No, but he’s a quick study!
I love a fighter!
Good afternoon
I didn’t go anywhere. But I wanted to say thank you for putting your vitriol on full display by attacking me on a thread personally that has nothing to do with whatever grievance you might have with the world.
It is quite pleasant to know that I apparently live rent free in your head.
I hope you are having a pleasant day and that someday you able to stop obsessing about everything I say. Although I must say that I am flattered that you feel so challenged by me that you have to throw weak and ineffective barbs at me wherever you have a chance!
Enjoy your evening.
ROI
The guy knows his customers
He Alansky’s the Leftists.
Nice
The basis of the lawsuit is that Florida’s public employee pension fund owns Twitter stock. Thus, if the board takes action that is against the financial best interests of the stockholders, the State of Florida and its retirees are harmed, and thus have standing to sue. So they are suing not as a state government per se, but as stockholders.
Yes gov Desantis has impressed me a lot.
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