[chippy]

Yes, fair enough, learnt something new today.

I was wrong about it being legal in law not to maximize profits.

There is still an obligation of directors to maximise value if that is what the shareholders want (and most of the time, all shareholders want a corporation to increase profit). But it's not illegal for a director to be negligent in the goal of the shareholders. They might lose their job or get a civil lawsuit, at the worst, I guess.