Forum Post: eBay v. Newmark: Corporations Are Legally Required To Maximize Profits
Posted 12 years ago on Nov. 25, 2011, 5:28 a.m. EST by JadedCitizen
(4277)
This content is user submitted and not an official statement
Under eBay v. Newman, the law is as Al Franken said: “it is literally malfeasance for a corporation not to do everything it legally can to maximize its profits.” Just ask Jim and Craig; no one disputes it’s their company, but they’re legally prohibited from taking steps to preserve the profit-alongside-community-service mission that’s served them well. Maximize profits, or else.
The impact of this duty-to-maximize-profits stretches far beyond mere investments. Under Citizens United, corporations now have the First Amendment right to influence our fragile democracy however they want, since they’re “people,” just like you and me, albeit profit-maximizing zombies who care not for truth, justice, or the American way.
Read the Rules