alt Hacker NewsHenry Ford wanted to raise salaries of his employees but the Dodge brothers (who owned only 10% of the company) successfully sued and "As of 2025, in Delaware, the jurisdiction where over half of all U.S. public companies are domiciled, shareholder primacy is still upheld."
My understanding is that that legal case really states that you can’t defraud your shareholders by funnelling money into other businesses they have no ownership in.
It doesn’t set the legal standard that profits must be maximized which is impossible.