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?
  • mormund@feddit.de
    13·
    2 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.

  • SoylentBlake@lemm.eeEnglish
    7·
    2 months ago

    This is due to activist investors.

    That’s people who’ll buy up enough stock to be allowed at shareholders meetings and then they’ll fucking DRILL the C-suite non-stop, derailing the meetings.

    It’s a good strategy, even if it forces you in bed with evil. Make the rest of the shareholders undeniably knowledgeable and then theyll have to contend with shame or don the moniker themselves. Or start demanding ethical business practices themselves, which is what the lawsuit is ultimately trying to avoid.