Tell you a secret, it will not be shut down, they will eventually listen if the fines get high enough, the shareholders will kick out the management if they lose a lot of money.
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Facebook Fined Record $1.3 Billion Over EU User Data Transfers to the US
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Tell you a secret, it will not be shut down, they will eventually listen if the fines get high enough, the shareholders will kick out the management if they lose a lot of money.
No, the EU fine is imposed to change the behaviour of the corporation.Sadly so.
But...
That should automatically lead to another big fine...
If the corporation's shareholders are stupid enough to reward management for provoking such a fine by providing a golden parachute to them for getting the company fined and losing the shareholders lots of money then that's the shareholders' own free decision.
If that leads to the new management thus incentivized provoking even bigger fines or even more severe consequences, that is again the shareholders' prerogative to have that happening – at their own expense by losing even more money in the process!
If shareholders run their own company into a ditch they can perfectly well do that on their own money!
Only if management defrauded the shareholders by violating corporate regulations about transparency and proper reporting then shareholders could possibly have legitimate claims against said management, but not if they themselves had deliberately sanctioned management misdeeds with open eyes!