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That's an urban legend, as you suspect, at least in the US and UK - there's nothing in the law requiring to maximise profits. https://legislate.ai/blog/does-th
by lores 3y ago
That's an urban legend, as you suspect, at least in the US and UK - there's nothing in the law requiring to maximise profits.
https://legislate.ai/blog/does-the-law-require-public-companies-to-maximise-shareholder-value https://legislate.ai/blog/does-the-law-require-public-compan...
- deleted 3y ago[deleted]
- hot_gril 3y agoSo it's really only applicable when something egregious like a conflict of interest is at play. Not surprised by that. "In Shlensky v Wrigley, a famous American case, the firm that owned the Chicago Cubs baseball team refused to hold games at night, even though this would have increased profits and value. The director, Mr Wrigley, argued that installing lights for the games would disturb the peace of the surrounding environment." Good example of it not being 100% about money.