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do public companies always have to do what makes the shareholders the most money or risk being sued? (lemmy.world)

submitted 7 months ago by [email protected] to c/[email protected]

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I know the board has some fiduciary duty, but can a company put some guardrails on it when they go public, like saying the environment will always come first, or employees or customers or something?

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[–] [email protected] 14 points 7 months ago (1 children)

No. They can be sued for the opposite too. Generally it's about misleading the shareholders. You can argue that it's about money in the end because who will buy planes that fall out of the sky?

NEW YORK, Jan 31 (Reuters) - Boeing (BA.N), has been sued by shareholders who said the company prioritized profit over safety and misled them about its commitment to making safe aircraft, prior to the Jan. 5 mid-air cabin panel blowout on an Alaskan Airlines 737 MAX 9.

[–] [email protected] 4 points 7 months ago

That lawsuit isn't about Boeing prioritizing profit, it's about mismanagement tanking their investments in the long term. Also lying.