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It is a myth that fiduciary duty means maximising profit above all else. Let's see what that wiki page says: > A fiduciary is someone who has undertaken to
by seanhunter 4y ago
It is a myth that fiduciary duty means maximising profit above all else. Let's see what that wiki page says:
> A fiduciary is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence.
Under Delaware law, fiduciary duty splits into 3 parts: the duty of care, the duty of loyalty and the duty of good faith. Fiduciary duty to shareholders means being a faithful representative of their interests, not putting your own personal interests first, exercising care and good judgement. It absolutely does not mean maximising profits above ethics.