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Not sure they can do that, they have a legal duty to maximize shareholder value.
by WXLCKNO 3y ago
Not sure they can do that, they have a legal duty to maximize shareholder value.
- FireBeyond 3y agoShareholder benefit has been held many times by courts not to mean "the ruthless and exclusive sole pursuit of maximal profit"
- gruez 3y agoYeah but in this case, "maximize profit by charging 30% tax" is what the board (elected by the shareholders) decided to implement. You're free to disagree, but you'll have to start a proxy fight to change the board.
- standardUser 3y agoI think the greater point here is we need to change federal law if we want companies to not endlessly hoard cash and gouge their customers.