2 ms·
"This is not an opinion, I am speaking legally" Hi, as former member of a board of directors, and also as a current shareholder in a company, you are wrong. Th
by lightedman 1y ago
"This is not an opinion, I am speaking legally"
Hi, as former member of a board of directors, and also as a current shareholder in a company, you are wrong. The fiduciary duties owed to the company arise from the legal relationship between the directors and the company directed and controlled by them. The fiduciary duties owed to the shareholders do not arise from that legal relationship.
Try again when you actually graduate law school. Maybe then you can speak legally about something I do PROFESSIONALLY.
- emptysongglass 1y agoYou're not saying anything, though you may think you are. Fiduciary duties owed to the company arising from the legal relationship between the directors and company is just legalese disguising the actual practice of public companies. In practice, every publicly held company that is not a benefit corporation serves to maximize stakeholder earnings.
- sheepscreek 1y agoYes but WHEN there is a conflict of interest, whose interest is put before the others? Within the confines of legality, companies have a lot of leeway when it comes to taking decisions that put customers and even their employees on the back-foot. I did not say I am a lawyer - but that is a Supreme Court case any lawyer would be happy to cite in the court of law.
- whatevaa 1y agoSuch a snarky comment won't get anybody agreeing with you. Nor yoh actually explained anything.
- sheepscreek 1y agoAlso, I was talking about the company’s fiduciary duties, NOT duties owed TO the company. You’re complete off the point here, sorry to say.