[alex8022]

They do have a fiduciary duty to shareholders, but my understanding is that there is a low bar to meet. Fraud / fleecing shareholders is out, but as long as they have a reasonable case that what they're doing is in shareholders' best interests, they'll be fine.

As an example, it would be easy to make the case that reducing the dividend to build a new factory is in shareholders' best interest. It would also be easy to make the case that they shouldn't open a new factory, and instead increase the dividend. Which option they choose is a bit subjective, and a judgement call, but neither would breach their fiduciary duty.

Choosing a much higher cost supplier, that is owned by their husband or wife, probably would breach fiduciary duty.

[dpark]

Yes, absolutely. Shareholder value is not the same thing as current stock price.