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by lores 854 days ago
That's an urban legend, as you suspect, at least in the US and UK - there's nothing in the law requiring to maximise profits.

https://legislate.ai/blog/does-the-law-require-public-compan...

1 comments

So it's really only applicable when something egregious like a conflict of interest is at play. Not surprised by that.

"In Shlensky v Wrigley, a famous American case, the firm that owned the Chicago Cubs baseball team refused to hold games at night, even though this would have increased profits and value. The director, Mr Wrigley, argued that installing lights for the games would disturb the peace of the surrounding environment." Good example of it not being 100% about money.