Photo Illustration by Thomas Levinson/The Daily Beast/Getty
Florida Gov. Ron DeSantis’ odd threats to investigate and possibly sue Bud Light’s parent company on behalf of Florida’s pension fund are both confused and entirely meritless.
In a recent Fox News appearance, he claimed that his investigation could lead “to a derivative lawsuit filed on behalf of the shareholders of the Florida pension fund” to impose penalties on Bud Light for giving a transgender influencer a custom beer can.
As most Americans are not corporate lawyers, the ordinary person may not immediately smell the bull in DeSantis’ bluster. After all, Gov. DeSantis graduated from Harvard Law and knows enough to use the words “fiduciary” and “derivative.” Thankfully, corporate law has largely solved the problem of litigious and value-destroying shareholders like Gov. DeSantis.