670
Bane Mask
(thelemmy.club)
A place to post ridiculous posts from linkedIn.com
(Full transparency.. a mod for this sub happens to work there.. but that doesn't influence his moderation or laughter at a lot of posts.)
It's not actually law and that's just what companies want to be the belief for them behaving reprehensibly
If they didn't, other companies would be more attractive to capital, its how competition works.
Am I reading this wrong? https://uslawexplained.com/fiduciary_duty
Yes, I believe you're interpreting that page incorrectly. Fiduciary duties are law bindings for specific relationships and situations not applicable for all publicly traded companies to all shareholders.
I believe you're confusing that idea with the theory of shareholder supremacy that's a claim, popularized by the likes of Jack Welch to support their actions.
The background comes from Dodge v. Ford Motor Co. in 1919 which stated
and the interpretation has been quite debated.