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If Corporations Don’t Put Shareholders First, What Happens to Business Judgment Rule?

(Reuters) - Marty Lipton’s inchoate feud with the Council of Institutional Investors may be the juiciest early story to emerge from the Business Roundtable’s announcement this week of a new corporate paradigm. But it’s not the only legal story prompted by the bombshell BRT announcement, in which business leaders pledged to consider the interests of an array of stakeholders – employees, customers, suppliers and community members – in addition to shareholders’ interest in maximizing profits...

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