3 ms·

This is literally US law and has been around forever. Here's an example from 1919. Ford tried to take their excess profits to give employees raises and reduce

• rglullis 3y ago
  If you bothered to read the footnotes of the wikipedia page, you'll see: Dodge is often misread or mistaught as setting a legal rule of shareholder wealth maximization. This was not and is not the law. Shareholder wealth maximization is a standard of conduct for officers and directors, not a legal mandate. The business judgment rule [which was also upheld in this decision] protects many decisions that deviate from this standard. This is one reading of Dodge. If this is all the case is about, however, it isn't that interesting.