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This made everyone who utilized the stadium a stakeholder as well. The stakeholders were harmed because when Adelphia went bankrupt, the coliseum was not completely paid for. Therefore, they had to find alternative ways to pay for the coliseum. The Rigas family was the manager of Adelphia and had a fiduciary responsibility to the stakeholders...
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This scandal was immoral because Adelphia did not fulfill their responsibilities to their stakeholders when it was their duty.
According to Milton Friedman, "stockholders are the owners of the corporation, and hence corporate profits belong to the stockholders. Managers?have a moral obligation to manage the firm in the interest of the stockholders" (Friedman 45)...
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The Adelphia Scandal
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