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By August 1972, the focus was on arts and crafts, and the business had thrived to such an extent that Green and his wife were able to open a 300 square-foot store in northwest Oklahoma City called Hobby Lobby. In 1975, Green left his 13-year career with TG&Y and opened a second Hobby Lobby location with 6,000 square feet of space. [2] [3]
Burwell v. Hobby Lobby Stores, Inc., 573 U.S. 682 (2014), is a landmark decision [1] [2] in United States corporate law by the United States Supreme Court allowing privately held for-profit corporations to be exempt from a regulation that its owners religiously object to, if there is a less restrictive means of furthering the law's interest, according to the provisions of the Religious Freedom ...
The US Supreme Court has also made it clear in Burwell v Hobby Lobby Stores Inc that shareholder value is not a default or overriding aim of corporate law, [139] unless a corporation's rules expressly opt to define such an objective. In practice, many corporations do operate for the benefit of shareholders, but this is less because of duties ...
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