Florida Gov. Ron DeSantis has instructed his government to investigate whether Bud Light’s parent company, AB InBev, breached its duties to shareholders. This comes as a conservative backlash continues to rage over the beer brand’s deal with transgender social media influencer Dylan Mulvaney.
DeSantis, who is running for the Republican presidential nomination, has directed Lamar Taylor, the interim executive director of the State Board of Administration, to immediately launch a review into “how AB InBev’s conduct has impacted and continues to impact the value of SBA’s AB InBev holdings.”
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“It appears to me that AB InBev may have breached legal duties owed to its shareholders, and that a shareholder action may be both appropriate and necessary,” DeSantis wrote in a letter tweeted Friday.
“All options are on the table,” he added.
Shares of AB InBev are down more than 2% this year, while the broader market is up.
Sales of Bud Light have plummeted in the wake of conservative uproar and a boycott over…
2023-07-21 15:24:55
Post from www.cnbc.com
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