> For US companies registered in Delaware (which is most of them), the doctrine of shareholders primacy holds. Shareholders can and have sued corporate boards/execs for not acting in their best interest. It goes back to the 1910s when Henry Ford very loudly and explicitly announced he was cutting shareholder dividends to pay workers the famous $5/day wage (double what any other factory workers were paid), and minority shareholders sued and won.
That's because he had the explicit goal of starving out the Dodge brothers who owned a competing automotive manufacturer. If it was just about the pay of employees the suit likely would have failed. You cannot prejudice minority shareholders even if they own competing companies.
That's because he had the explicit goal of starving out the Dodge brothers who owned a competing automotive manufacturer. If it was just about the pay of employees the suit likely would have failed. You cannot prejudice minority shareholders even if they own competing companies.