686
Bane Mask (europe.pub)
submitted 2 months ago* (last edited 2 months ago) by to c/linkedinlunatics@sh.itjust.works
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[–] -1 points 2 months ago (4 children)

That has always been the case and is written into law that a publicly traded company must do anything possible to make more money.

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  • [–] 5 points 2 months ago (3 children)

    It's not actually law and that's just what companies want to be the belief for them behaving reprehensibly

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  • [–] 3 points 2 months ago (1 child)
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  • [–] 1 point 2 months ago

    Yes, I believe you're interpreting that page incorrectly. Fiduciary duties are law bindings for specific relationships and situations not applicable for all publicly traded companies to all shareholders.

    I believe you're confusing that idea with the theory of shareholder supremacy that's a claim, popularized by the likes of Jack Welch to support their actions.

    The background comes from Dodge v. Ford Motor Co. in 1919 which stated

    There should be no confusion... A business corporation is organized and carried on primarily for the profit of the stockholders.

    and the interpretation has been quite debated.

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