HailSeitan

u/HailSeitan@lemmy.world
218 posts · 541 comments

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No, a company cannot be sued for failing to maximize shareholder value. The business judgment rule protects any company that wants to raise wages, refrain from layoffs, donate to charity, offer sick leave, etc. What they can’t do is not pursue profit at all. Now, will shareholders vote them out if they do those things? Maybe, but that’s a totally different mechanism than a lawsuit.

Pragmatism is cashing in on the Mamdani moment and not squandering the intense hatred of the establishment that voters feel by failing to run the best known populist champion of the working class in the country who isn’t 80 years old