According to DeSantis, the losses that Florida’s pension fund saw after the partnership may be actionable. According to CNN, the pension fund held AB InBev shares valuing $46 million in March this year. Its price has dropped from $66 per share to $58, though the outlet notes it is still higher than its $44 low in Sept 2022.
“We must prudently manage the funds of Florida’s hardworking law enforcement officers, teachers, firefighters, and first responders in a manner that focuses on growing returns, not subsidizing an ideological agenda through woke virtue signaling,” DeSantis wrote in his letter.“We believe that when you take your eye off the ball like that, you are not following your fiduciary duty to do the best you can for your shareholders,” he said.
“So we are going to be launching an inquiry about Bud Light and InBev, and it could be something that leads to a derivative lawsuit filed on behalf of the shareholders of the Florida pension fund,” he continued. “Because at the end of the day, there have to be penalties for when you put business aside to focus on your social agenda at the expense of hardworking people.”Republican who has made a point to lean into the Bud Light controversy by using the tools at their disposal.