Fairly certain he’s referring to Dodge v. Ford Motor Company, where it was established that a company needs to operate in the best interests of shareholders above all else.
Also IIRC there was a case before the Supreme Court where the dispute was whether shareholder value was the sole & supreme goal, or there could be other factors involved from other stakeholders (such as workers, the community, ...).
The Supremes ruled for shareholder value.
However I forget details of ths case. If anyone here happens to know what case I am referring to, please chime in.
I don't know of a case where the Court affirmed shareholder primacy - as far as I am aware it's a state by state thing though since Delaware has it in their code it impacts a massive number of corporations.
The Supremes ruled for shareholder value.
However I forget details of ths case. If anyone here happens to know what case I am referring to, please chime in.