yeah but even in that case, the CEO of the first company has a fiduciary duty to make that company make as much money as possible. intentionally crashing one company sothat other companies’ stock goes up is a gross violation of duty and can and will be punished as such assuming there’s any shareholders who only own shares of the first company.
i’m not sure. what does happen often is that CEOs are forced to step back by the shareholders. but i’m not sure what exactly the consequences of that are.
!["Helpful" [Super-Fun-Pak Comix]](https://lemmus.org/pictrs/image/d4835f80-c0e2-4970-b129-bfbe62561af2.webp){kind=link}
Twist: you secretly own those companies too
yeah but even in that case, the CEO of the first company has a fiduciary duty to make that company make as much money as possible. intentionally crashing one company sothat other companies’ stock goes up is a gross violation of duty and can and will be punished as such assuming there’s any shareholders who only own shares of the first company.
Musk / Bezos / any CEO: HEHEHE you said “duty”
(They don’t give a shit)
Has anyone ever been prosecuted or punished for breach of fiduciary duty? My understanding is that it’s a noble concept, but absolutely toothless.
i’m not sure. what does happen often is that CEOs are forced to step back by the shareholders. but i’m not sure what exactly the consequences of that are.