184
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 17 Oct 2023
184 points (93.8% liked)
Movies and TV Shows
17 readers
2 users here now
General discussion about movies and TV shows.
Spoilers are strictly forbidden in post titles.
Posts soliciting spoilers (endings, plot elements, twists, etc.) should contain
[spoilers]in their title. Comments in these posts do not need to be hidden in spoiler MarkDown if they pertain to the title's subject matter.
Otherwise, spoilers but must be contained in MarkDown as follows:
::: your spoiler warning
the crazy movie ending that no one saw coming!
:::
Your mods are here to help if you need any clarification!
Subcommunities: The Bear (FX) - [!thebear@lemmy.film](/c/thebear @lemmy.film)
Related communities: !entertainment@beehaw.org !moviesuggestions@lemmy.world
founded 1 year ago
MODERATORS
Bro are you dumb
I'm as cynical as anybody else and there was a time I also would have repeated it as well.
But.... show me the law. Show me where it says this.
https://en.m.wikipedia.org/wiki/Derivative_suit
I don't know where you live so I can't quote your local laws to you, but in this age of information you can Google terms and they will present relevant links. You should try it sometime.
Your phrasing was "legally beholden" which suggests to me that a law exists requiring directors and officers to choose the most profitable path. The wikipedia page you linked does not mention any such law. It describes a type of lawsuit that investors can bring against those running the company.
Perhaps they didn't use the right words. Iirc the correct term is 'fiduciary duty'. A publicly traded company has a fiduciary duty to create value for shareholders.
https://www.lexisnexis.co.uk/legal/guidance/fiduciary-duties
They are only legally beholden to do what their shareholders collectively want. While it's not necessarily just for profit, if the shareholders are only demanding more profits, that's how the company will behave.