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billionaireman (thelemmy.club)

submitted 18 hours ago by Deceptichum@quokk.au to c/comicstrips@lemmy.world

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[-] peopleproblems@lemmy.world 13 points 13 hours ago

Fiduciary Duty is a lie created in the 80s to make corporate raiders more appealing.

[-] glitchdx@lemmy.world 9 points 13 hours ago

Look up Dodge v Ford. This case set the precedent for what is now known as fiduciary duty.

[-] peopleproblems@lemmy.world 13 points 12 hours ago

They discuss it in the wiki article:

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.

this post was submitted on 07 Feb 2026

384 points (93.4% liked)

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