[benchaney]

> For example, its essentially US law that Apple's officers have a fiduciary responsibility to shareholder's best interests. Not participating in the Chinese cellular market over principle violates that principal of law.

This isn’t true at all.

[obmelvin]

More info for those curious:

Corporations Don’t Have to Maximize Profits

Lynn Stout, the distinguished professor of corporate and business law at Cornell Law School, is the author of "The Shareholder Value Myth: How Putting Shareholders First Harms Investors, Corporations, and the Public."

https://www.nytimes.com/roomfordebate/2015/04/16/what-are-co...

[Bromskloss]

Aren't shareholders and investors the same thing?

[abrowne]

Yes, so the title is saying they too will be harmed by "putting them first".

[brisance]

Except that it is true that directors face lawsuits about breaches of fiduciary duty frequently enough for it to be not uncommon.

A suit was filed recently naming Eddy Cue for violating anti-trust law relating to the settlement for the e-books case brought by the federal government.

http://investor.apple.com/secfiling.cfm?filingID=1193125-18-...

[Nasrudith]

The problem is getting sued in itself is meaningless. PETA could sue Tyson Foods by arguing that selling meat is a longterm liability. They would lose badly and quickly.

[brisance]

I was replying in reference to directors having fiduciary duties.