Florida Governor Ron DeSantis said he will seek to hold Twitter’s board “accountable” over their response to Elon Musk’s attempts to buy out the company.

“The state of Florida, in our pension system, we have shares of Twitter. I didn’t buy it. We have people that run the fund, but nevertheless, it hasn’t been great in return on investment. It’s been pretty stagnant for many, many years,” DeSantis said.

“To me, I think that’s probably an injury to the fund, so we’re gonna be looking at ways that the state of Florida, potentially, can be holding this Twitter board of directors accountable for breaching their fiduciary duty,” DeSantis continued.

“So stay tuned on that.”

Musk had offered to buy Twitter, which has a price target of $30 from Goldman Sachs, for $54.20 a share last week, but board members currently making between $200,000 and $300,000 are working to fight the buyout.

The board adopted a “poison pill,” which allows all of Twitter’s current shareholders besides for Musk to purchase additional shares at a reduced cost. The move both severely decreases the value of the company and dilutes Musk’s current 9.2% stake in the company.

Musk has said that if gains control of Twitter, he would cut the salaries of its board of directors to zero, which he said would save the company $3 million a year.

(YWN World Headquarters – NYC)