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this post was submitted on 20 Oct 2023
1375 points (98.4% liked)
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That's actually not the case.
"courts have consistently refused to hold directors liable for failing to maximise shareholder value"
"In 2014, the United States Supreme Court voiced its position in no uncertain terms. In Burwell v Hobby Lobby Stores Inc., the Supreme Court stated that “Modern corporate law does not require for profit corporations to pursue profit at the expense of everything else”. "
Just more corporate propaganda, that's all.
https://legislate.ai/blog/does-the-law-require-public-companies-to-maximise-shareholder-value
Holy shit! That's good to know. Thank you.