How Much is Free Speech Worth?
Today could mark a significant stride towards restoring free speech – a principle that this country was founded on. Twitter has reportedly reached a deal to sell its platform to Elon Musk, the tech billionaire who has expressed his intent to reform Twitter as the “platform for free speech around the globe.”
ACLJ Director of Policy Harry Hutchison explained how Musk will likely work with shareholders to replace the Board of Directors to make these changes:
"The members of the Board of Directors owe fiduciary duties to shareholders. They can include the fiduciary duty of loyalty and care. So, if they are seen as putting their own interests ahead of the interests of the shareholders, that constitutes a violation of their fiduciary duty and that then exposes them to a shareholder derivative suit. I suspect as well that members of the Board of Directors owe a fiduciary duty of care. It’s very difficult to successfully bring a case against the board with respect to a violation of duty of care. . . . But it is sufficient to say that Twitter is incorporated under Delaware general corporate law, the shareholders under Delaware general corporate law own the company. However, the board of directors, each of whom is appointed by the shareholders, they manage, and they really control the corporation and then the company is managed day-to-day by officers. So, members of the Board of Directors, they have the right to fire officers. But if we want to replace members of the Board of Directors, this will generally require a shareholder vote. . . Shareholders can vote by signing consent documents."
The whole point of Elon’s effort to buy Twitter is to protect free speech. The First Amendment is not only being threatened in the corporate world, but also at the Supreme Court. The Supreme Court held oral argument today regarding a coach that quietly prayed on the 50-yard line after football games and was fired for it.
Today’s full Sekulow broadcast is complete with even more in-depth analysis of Elon Musk buying Twitter and the major prayer case at the Supreme Court.
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