Exxon Suit Challenging Activist Climate Proposals Moves Ahead [BNN Bloomberg (Canada)]
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Exxon Mobil Corporation (XOM)
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Source: BNN Bloomberg
The Houston-based oil giant filed the suit in a novel move to use the courts to keep environmental and social investor bids out of annual meetings. It's part of a broader corporate pushback to the power wielded by the US Securities & Exchange Commission in the vetting of shareholder proposals. Wednesday's ruling by a judge in Fort Worth, Texas, will allow Exxon to pursue claims that activist group Arjuna Capital abused the shareholder vote process by buying minimal shares to campaign for proposals that “are calculated to diminish the company's existing business.” ©2024 Bloomberg L.P.
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- Editorial: Shame on California lawmakers for killing fossil fuel divestment bill again [Los Angeles Times (CA)]Los Angeles Times
- Hess sale to Chevron stalls as appointment of arbitration panel incomplete [Yahoo! Finance]Yahoo! Finance
- Exxon's Belgium Traders Decline UK Transfer, Risking Jobs [Yahoo! Finance]Yahoo! Finance
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