Column: Exxon Mobil is suing its shareholders to silence them about global warming
www.latimes.com
Exxon Mobil objects to the Securities and Exchange Commission's rule on shareholder proposals. So why is it suing these small investors instead of the SEC?
  • @[email protected]
    59•5 months ago

    So you are suing … the people that partially own your company? Only in America can you sue someone without any good reason and still win by default because you have more cash on hand. Cash the defendant partially provided no less.

  • AwkwardLookMonkeyPuppetEnglish
    7•5 months ago

    In February, Exxon Mobil sued the U.S. investment firm Arjuna Capital and Netherlands-based green shareholder firm Follow This to keep a shareholder resolution they sponsored from appearing on the agenda of its May 29 annual meeting. The resolution urged Exxon Mobil to work harder to reduce the greenhouse gas emissions of its products.

    So they weren’t even trying to silence them on a public forum. They didn’t want a resolution to “work harder” to appear on the agenda. Then after the defendants agreed to withdraw and not pursue the resolution again, Exxon still sued them to send a message to other shareholders that they must keep their mouths shut and not try to exercise any of their rights as a shareholder. That is pretty chilling behavior, even from Exxon.