desantis is right .... the board of directors of twitter do hold a fiduciary duty to their shareholders/owners not to dilute the value of the company's stock ..... to include elon musk .....

those who control twitter don't want to give up control of the soapbox.   so, they are trying to sell shares to dilute elon musk's percentage of control, to combat any influence he may have sitting on the board of directors.   but, in announcing their plans, they drove down the price of twitter stock, damaging their current share holders.

i think desantis is correct when he asserts this is a breach of the fiduciary duty owed to current share holders.   i don't know corporate law that well, to say whether doing so is criminal in nature, or just a civil/contractual breach giving rise to damages to shareholders ...  to include musk.

but, it is a correct and trenchant observation, by my lights.

i hope musk sues them for breach of the fiduciary duty owed to him, and to others owed that fiduciary duty.   in short, he should file a class action suit, right now.   tomorrow morning would be good.

said action to name personally the officers of the company which directed the "poison pill" gambit, alleging personal liability.    a real "put that 'poison pill" in your coffee, and swill it down" kind of statement.

john jay @ 04.24.2022