Their fiduciary responsibility is not to defraud the shareholders. Milton Friedman’s idea that management’s only constituency is the shareholders is not actually a matter of law.

Management can just say “in our judgement X is the right thing to do, not Y”. Google is too big for TCI to try to gain control over.

Courts of law would beg to differ

https://corpgov.law.harvard.edu/2021/12/01/dodge-v-ford-what...

The wikipedia page pretty accurately summarizes why Dodge v. Ford isn't really a useful citation.

Firstly, if an executive says "we believe this is in the interest of long-term shareholder value", the courts basically just defer to their judgement. You can't get the courts to run a company for you.

And second, the precedent has been softened since 1916 (or wasn't even true at the time), and for example some corporations like B-corps explicitly reject it, without any legal consequences.

"We took a 50 billion dollars and lit it on fire" is meaningfully different from "we structured our teams in a way that you think is inefficient."

In the US you can sue anyone for anything. It doesn't mean you'll win a damn cent though.