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> For example, its essentially US law that Apple's officers have a fiduciary responsibility to shareholder's best interests. Not participating in the Chinese ce
by benchaney 8y ago
> For example, its essentially US law that Apple's officers have a fiduciary responsibility to shareholder's best interests. Not participating in the Chinese cellular market over principle violates that principal of law.
This isn’t true at all.
- obmelvin 8y agoMore info for those curious: Corporations Don’t Have to Maximize Profits Lynn Stout, the distinguished professor of corporate and business law at Cornell Law School, is the author of "The Shareholder Value Myth: How Putting Shareholders First Harms Investors, Corporations, and the Public." https://www.nytimes.com/roomfordebate/2015/04/16/what-are-corporations-obligations-to-shareholders/corporations-dont-have-to-maximize-profits https://www.nytimes.com/roomfordebate/2015/04/16/what-are-co...
- Bromskloss 8y agoAren't shareholders and investors the same thing?
- abrowne 8y agoYes, so the title is saying they too will be harmed by "putting them first".
- brisance 8y agoExcept that it is true that directors face lawsuits about breaches of fiduciary duty frequently enough for it to be not uncommon. A suit was filed recently naming Eddy Cue for violating anti-trust law relating to the settlement for the e-books case brought by the federal government. http://investor.apple.com/secfiling.cfm?filingID=1193125-18-154515&CIK=320193 http://investor.apple.com/secfiling.cfm?filingID=1193125-18-...