Not even remotely true. NO publicly traded company is "required" to "do everything to maximize shareholder return". And, if a company that sells a product does not put the customer first, their priorities are out of whack, their competition will beat them out, and in the long run they'll be out of business. The best companies put the customers first. If you do that, most everything else falls into line. Examples of companies that put profits before the customer: Enron, Worldcom, Tyco, Lehman Bros., Sears, Countrywide Financial, and WeWork, to name a few.