• @Glytch@lemmy.world
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    827 days ago

    Yes they actually do. Look up Dodge v. Ford Motor Company. A business must be run in the interests of the shareholders, not the public, not the employees, not even the business itself.

    Is it morally right? Fuck no. Is it the law? Unfortunately yes.

    • @Knock_Knock_Lemmy_In@lemmy.world
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      1126 days ago

      Grobow v. Perot, 539 A.2d 180 (Del. 1988).

      Directors in a business should:

      • act in good faith;
      • act in the best interests of the corporation;
      • act on an informed basis;
      • not be wasteful;
      • not involve self-interest (duty of loyalty concept plays a role here).