DeSantis Calls For Legal Action Against AB InBev
It is unclear what exact legal recourse the state might have to challenge a multi-national corporation's business decisions.
Florida Governor Ron DeSantis has advised for the state’s investment manager to consider legal action against Bud Light’s parent company.
DeSantis sent a letter that suggested AB InBev ‘breached legal duties owed to its shareholders’ when it decided to take a risk and associate with “radical social ideologies.”
Bud Light sales took a hard hit over recent months after the company entered a partnership with transgender influencer Dylan Mulvaney which prompted Conservatives to boycott the alcoholic beverages.
DeSantis said the state may consider a “derivative lawsuit” against AB InBev, which are filed by shareholders on behalf of a company against a corporation’s directors or officers alleging breach of duties. However, it is unclear what exact legal recourse the state might have to challenge a multi-national corporation’s business decisions.
At the end of March, Florida’s pension fund, held more than 682,000 shares of AB InBev.