3 ms·
There is no fiducary duty to maximise shareholder profit. It doesn't exist, it's basically made up. (There is a duty not to intentionally screw over shareholder
by makomk 4y ago
There is no fiducary duty to maximise shareholder profit. It doesn't exist, it's basically made up. (There is a duty not to intentionally screw over shareholders, but that's far narrower.) In particular, most US corporations are incorporated in Delaware which has something called the business judgement rule, where so long as executives have reasonable belief that their actions are in the best interests of the business they're protected.