Exxon Suit Could Have ‘Chilling Effect’ on Proposals, Despite Dismissal
Boards of directors should be wary of following Exxon’s lead in suing shareholders they disagree with
ExxonMobil‘s lawsuit against two activist investors was recently dismissed, and while the oil and gas giant still came out with a win by compelling the groups to withdraw their shareholder proposals on emissions, the victory could come at a cost.
…This year, 49 climate-related shareholder proposals have gone to a vote at S&P 500 companies so far, garnering an average of 17% support, according to public company intelligence provider MyLogIQ. None have passed.
