This is true. The latter half of your comment is not. At best they have a duty to shareholders. But your assertion would mean every time a company posted a loss and the price went down the execs would be in legal trouble, which is nonsense.
Something bad happens, stock goes down, angry shareholders sue because they should have been told the bad thing would happen and the stock would go down.
https://secform4.com/insider-trading/1018724.htm + https://i.imgur.com/tMBfGee.png = ?
Cue security entitlements, e.g. https://ndlegis.gov/assembly/69-2025/testimony/SJUD-2364-202...
There are plenty of companies who pay no dividends and have not returned growth in share price. They’re still operating and no one’s coming to throw the execs in jail.
On the off chance that there is such a law, please cite it.
> Ce dérèglement se manifeste avant tout par la réduction de la démocratie à une logique juridique, le néolibéralisme ayant imposé une conception où le droit, érigé en garant exclusif de la liberté individuelle, relègue le politique à une fonction purement gestionnaire
automatically translated as
> This dysfunction manifests itself primarily through the reduction of democracy to a legalistic logic, as neoliberalism has imposed a conception in which the law—elevated to the status of exclusive guarantor of individual liberty—relegates the political realm to a purely managerial function.
Of course that all this is kind of circular, meaning the (neo-liberal) morality imposing itself via law on the current (and by now surpassed) morality, but that's how things usually go when it comes to societal theory.