That's why I said voting rights. If the if index fund managers find themselves on the hook for stocks they used to hold they'll take a much bigger interest in the CEO and Boards shenanigans.

Ahh, fair point.

Still, I'm skeptical that most shareholders have the ability to affect whether or not a company decides to commit criminal actions.

I agree, particularly in the case of companies where institutions own a majority of the shares (which is more than you’d expect, TWTR had something like 70-80% institutional ownership before going private)