Florida Moves to Hold Twitter’s Board Accountable for Response to Buyout Offer

On Tuesday, Governor Ron DeSantis hinted that the state will take action against Twitter’s board for “breaching their fiduciary duty” after hindering Musk’s $43 billion bid.

DeSantis spoke with media outlets regarding the state’s pension system. The pension system holds shares of Twitter. Musk’s bid was $10 above Twitter’s stock price at the time it was offered. DeSantis said,

“It represented a “massive return for shareholders.“I mean, most people and their investment vehicles are not making 20% in a year. They rejected it because they know they can’t control Elon Musk.”

He added:

“They know that he will not accept the narrative and that their little play toy of Twitter, it would not be used to enforce orthodoxy, and to basically prop up the regime and these failed legacy media outlets.”

DeSantis did not reveal specifics of the plan but indicated he would direct state finance officers to look into ways to hold Twitter’s board responsible. DeSantis added that the pension system had not seen any large gains and Floridians cannot miss out on a strong return on investments.

Former Twitter CEO, Jack Dorsey also slammed Twitter’s board of directors. When replying to a message about the failures of the board, he tweeted, “It’s consistently been the dysfunction of the company.”

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