Meta attorneys ask judge to dismiss suit claiming that directors' obligations extend beyond company

Attorneys for Meta and Mark Zuckerberg are asking a Delaware judge to dismiss a shareholder lawsuit asserting that the loyalties of company directors should not lie exclusively with the social media giant. The lawsuit claims that Meta's board directors have breached their duties to the company by putting profits over broader societal and economic interests. Those broader interests include the investment portfolios of Meta shareholders who also own stock in other companies. Meta attorneys argued Wednesday that the lawsuit has no legal basis should be dismissed with prejudice. They note that Delaware law does not require corporate directors to consider or protect a stockholder’s investments in other companies.