Comment by tptacek
11 hours ago
No. People have weird beliefs about what fiduciary duty means. It does not mean that companies are required at all intervals to maximize revenue or profit.
11 hours ago
No. People have weird beliefs about what fiduciary duty means. It does not mean that companies are required at all intervals to maximize revenue or profit.
You must not have spent much time looking at derivative lawsuits if you think this is weird. Anyway if ABC could convincingly classify this as a business decision, e.g., a question of the maintaining goodwill, maybe they're OK. If this came down to some exec feeling personally insulted, like the quote hints, a classic breach of fiduciary duty.