It is sometimes said that Dodge v. Ford Motor Co. invented the legal principle of shareholder wealth maximization. In fact, however, the principle pre-dated Dodge; to wit:
"The real object and purpose of a corporation for profit is to make a profit and to make dividends for the stockholders, and a person who holds the stock of a company has a right to have the business of the company conducted, as far as practicable at least, so that it will make profits and pay dividends." Arbuckle v. Woolson Spice Co., 1901 WL 708, at *2 (Ohio Cir. Ct. Jan. 12, 1901)
