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No. It is not against the law. I think it is only unlawful in the case where the company is actively up for sale.
by craigyk 11y ago
No. It is not against the law. I think it is only unlawful in the case where the company is actively up for sale.
- stvswn 11y agoFiduciary duty applies to all agents acting on the behalf of principals, all the time. If an agent were to honestly believe that it was in the best interests of shareholders (financially) to keep Yahoo! jobs, it would be fine for him to vote that way. If an agent were to believe that layoffs were best for shareholder value, but voted otherwise in order to fulfill another objective, that's absolutely a breach of fiduciary duty, which is a legal duty.
- ashwinaj 11y ago> If an agent were to honestly believe "Honest" or it's derivatives is the last word I would use in a sentence which includes Wall Street. Haven't Wall Street proven time and again that they are only interested in short term gains rather than a long term vision? I would be skeptical about any advice/opinion from a Wall Street firm.
- the_watcher 11y agoIncorrect. It is actually against the law.