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by andrekandre
326 days ago
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> The Michigan Supreme Court ruled in favor of the Dodges, declaring that a corporation’s primary obligation was to serve the financial interests of its shareholders and not broader social goals or even the well-being of its employees.
i am not a legal expert but my laypersons' reaction to this is, how can a court just declare such a thing ... it seems even from the cited criticisms others agree... fta: > Dodge is often misread or mistaught as setting a legal rule of shareholder wealth maximization. This was not and is not the law. Shareholder wealth maximization is a standard of conduct for officers and directors, not a legal mandate.
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