Re:Twitter board adopts poison pill after Musk’s $43B bid to...
by riccardomc on Friday April 15, 2022 @04:43PM
(#31045596)
Yes. The law doesn't bind directors to maximize shareholders value.
https://www.reddit.com/r/law/comments/3pv8bh/comment/cw9t52d...
Re:Twitter board adopts poison pill after Musk’s $43B bid to...
by ameister14 on Friday April 15, 2022 @05:09PM
(#31045862)
I could be wrong but I don't think Twitter is a B corp.
Re:Twitter board adopts poison pill after Musk’s $43B bid to...
by riccardomc on Saturday April 16, 2022 @03:05AM
(#31050259)
Twitter is not a B-Corp indeed. However any company, not just B-Corps, can have a purpose other than shareholders value maximization. Check this article: https://doi.org/10.1111/joms.12660
There's an easily searchable index of B-Corps: https://www.bcorporation.net/en-us/find-a-b-corp
Re:Twitter board adopts poison pill after Musk’s $43B bid to...
by ameister14 on Saturday April 16, 2022 @08:33AM
(#31051788)
>any company, not just B-Corps, can have a purpose other than shareholders value maximization.
It's moving there but I don't think it's there quite yet according to case law. The board motivations at present still have to tie back to maximizing value for shareholders.
Re:Twitter board adopts poison pill after Musk’s $43B bid to...
by namdnay on Friday April 15, 2022 @04:41PM
(#31045567)
Of course they are, major investors regularly push boards to do more ESG for example
Re:Twitter board adopts poison pill after Musk’s $43B bid to...
by ameister14 on Friday April 15, 2022 @05:02PM
(#31045788)
So most directors can get around the shareholder primacy rule pretty easily by tying the changes they want back to shareholder value.
Is a board allowed to consider anything but?