Yes, we would be better off if this misconception went away! I’d also add that the courts would generally be a bad mechanism for deciding all but the most egreg

Yes, we would be better off if this misconception went away! I’d also add that the courts would generally be a bad mechanism for deciding all but the most egregious breaches of shareholder trust -- embezzlement and such -- due to the subjective nature. If shareholders merely believe that firm leadership’s decisions are bad for the company, they can reflect that in their annual votes.