Quote:
Originally Posted by rhadin
In America, the fiction is that a company is supposed to act in the interests of its shareholders. The realities that the courts adhere to is that they act on behalf of entrenched management regardless of whether that is in the best interests of shareholders or citizens.
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I think a more general view is that corporation are free to work in the interests of their shareholders, within the limits of the current (constitutional) law. Price fixing was part of the 1890 Sherman Anti-Trust act, under which the Supreme Court broke up Standard Oil in 1911.
Frankly, given the lawyer in the US, I'm surprised it took this long for the suits....