It doesn't even require sleaziness. As was demonstrated a century ago to Henry Ford's chagrin, management is legally obligated to maximize return to shareholders. Henry Ford wanted to keep automobiles cheap so everyone could afford them; some of his shareholders wanted cash to start their own car companies. It didn't matter that Ford's plan was a sound business strategy. The courts ruled that he had to acquiesce to his shareholders' requests.
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It doesn't even require sleaziness. As was demonstrated a century ago to Henry Ford's chagrin, management is legally obligated to maximize return to shareholders. Henry Ford wanted to keep automobiles cheap so everyone could afford them; some of his shareholders wanted cash to start their own car companies. It didn't matter that Ford's plan was a sound business strategy. The courts ruled that he had to acquiesce to his shareholders' requests.