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Managers were responsible for ensuring the safety of their shareholders' money, not their own.
Insider trading therefore encourages executives to put their own interests before those of their shareholders.
But companies should also be looking after the best interests of their shareholders.
Around half of their shareholders and much more of their turnover comes from outside the country.
For their own survival and for the sake of their shareholders, they will have to.
On average the top 50 CEOs increased the wealth of their shareholders by $48.2 billion.
Neither public nor private managers will always act in the best interests of their shareholders.
Businesses work on behalf of their shareholders with proper governance, regulated by a regulator.
The big banks operate in the interests of their shareholders, not their customers.
"They incur the wrath of their shareholders and the financial community," Mr. Lerach said.
I am not sure that has been to the long-term benefit of their shareholders".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com