US courts have ruled that company management have "wide latitude" in how they manage the company. (The reason is that the courts don't want to get involved in

US courts have ruled that company management have "wide latitude" in how they manage the company. (The reason is that the courts don't want to get involved in the minutae of running private companies. They'd rather you just update your company bylaws.) However, shareholders, or most famously private equity (PE) companies, may pressure mgmt. to adopt certain policies and goals, and use their voting shares to encourage or even enforce that.