It is neither. This seems to be a very common belief (i.e., that corporations are legally required to maximize returns for shareholders), but it is neither law

It is neither. This seems to be a very common belief (i.e., that corporations are legally required to maximize returns for shareholders), but it is neither law nor regulation. Nothing prevents a company, even a publicly-traded one, from making decisions with other goals in mind, even if those decisions will reduce profits.