Businesses are required by law to do what is most profitable for their shareholders. So when businesses push stuff most people don't want, why don't their shareholders sue?

submitted by newguy from self.whatever

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[–]newguy[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

I guess most people do have mutual funds or 401ks that are through vanguard or blackrock.

But surely there must be some companies where there's enough individual shareholders that could group together and file a class action lawsuit? I don't even think it would require a majority of shareholders or anything. Just enough that are mad that they're imploding the brand, because in a lot of cases they are.

Even just a court case that brings the ESG credit ratings fiasco to the supreme court would be a big win for awareness