3 ms·
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
by 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.