Last month, ExxonMobil sued two of its “activist investors” — groups that try to use shareholder resolutions to pressure companies into taking action on social and environmental problems — in an attempt to block a proposal for the oil giant to limit its climate pollution from coming to a vote at an upcoming shareholder meeting. […]
  • LibertyLizard@slrpnk.net
    0·
    9 months ago

    What happened to private property rights, Exxon? If the shareholders want to shut down the company to protect the rest of their portfolio, shouldn’t they have that right according to capitalist ideology?

  • lntl@lemmy.ml
    0·
    9 months ago

    In its complaint, Exxon maintained that the existing proposal and proxy voting process is “flawed,” arguing that it “does not serve investors’ interests and has become ripe for abuse by activists with minimal shares and no interest in growing long-term shareholder value.”