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by nknight
5287 days ago
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> fiduciary responsibility "Fiduciary" derives from latin words meaning "faith" and "trust". You could reasonably rephrase it as "duty of good faith". It's just as vague as it sounds. It does not mean you have to do everything that's best for "the bottom line", either in the short or long term. In fact, absent actions that amount to fraud or deception, or that clearly breach laws, bylaws, or contractual arrangements, it is virtually impossible for shareholders to sustain an action for breach of fiduciary duty. Not supporting a bad law that is not in the best interests of the world is not even close to a breach of fiduciary duty as normally applies in a corporate context. |
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