4 ms·

Where does your understanding come from? what statute enforces it? https://www.nytimes.com/roomfordebate/2015/04/16/what-are-corporations-obligations-to-shareho

• dpark 9y ago
  You realize you linked to an article refuting an opinion I did not put forth, right? Having fiduciary duty to shareholders doesn't mean maximizing current stock price at any cost and I very specifically said that it does not. The article you linked touches on this. "Delaware (like other states) applies the business judgement rule to protect directors of corporations that reduce profits and share price when directors claim this will ultimately help the corporation." Things that help the corp do increase long term shareholder value. If you limit "shareholder value" to mean "current stock price", then sure, that's not fiduciary duty. But that's a really shallow view of shareholder value.