People Twitter

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"Have a duty to shareholders to maximize profits" musk is scurd. (slrpnk.net)

submitted 2 weeks ago by ByteOnBikes@slrpnk.net to c/whitepeopletwitter@sh.itjust.works

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[–] Rivalarrival@lemmy.today 1 points 2 weeks ago* (last edited 2 weeks ago)

They can be sued if they act contrary to their shareholder agreement, articles of association, or other conditions made before the shareholder gain a stake. There is nothing that requires a health insurance company to protect profits by denying 30% of claims. There is nothing requiring a company to focus on short-term profitability at the cost of damage to its reputation in the marketplace, or other negative consequences that could arise from attempting to maximize profitability at all costs.