Judge dismisses Meta shareholder lawsuit claiming that directors' obligations extend beyond company

Judge dismisses Meta shareholder lawsuit claiming that directors' obligations extend beyond company

6 months ago
Anonymous $6hYC3Wwiad

https://apnews.com/article/meta-zuckerberg-corporate-responsibility-shareholders-45ad3083e42c448368a5c4d45067ca0c

DOVER, Del. (AP) — A Delaware judge on Tuesday dismissed a shareholder lawsuit asserting novel claims about the roles of corporate leaders and arguing that the loyalties of Meta directors and company founder Mark Zuckerberg should not lie exclusively with the social media giant.

James McRitchie, who runs a website focused on corporate governance and shareholder activism, argued that Meta’s directors have breached their duties to the company by putting profits over broader societal and economic interests, including Meta shareholders’ diversified investments in other companies.

Judge dismisses Meta shareholder lawsuit claiming that directors' obligations extend beyond company

Tue Apr 30, 11:16pm UTC
https://apnews.com/article/meta-zuckerberg-corporate-responsibility-shareholders-45ad3083e42c448368a5c4d45067ca0c > DOVER, Del. (AP) — A Delaware judge on Tuesday dismissed a shareholder lawsuit asserting novel claims about the roles of corporate leaders and arguing that the loyalties of Meta directors and company founder Mark Zuckerberg should not lie exclusively with the social media giant. > James McRitchie, who runs a website focused on corporate governance and shareholder activism, argued that Meta’s directors have breached their duties to the company by putting profits over broader societal and economic interests, including Meta shareholders’ diversified investments in other companies.