Published on 28 May 2024 on Benzinga
Investors Fear Exxon Lawsuit Hinders Sustainability Proposals: Report - Exxon Mobil (NYSE:XOM)
A group of around 40 large European and American institutional investors, taking Exxon Mobil Corporation‘s XOM lawsuit as an example, urged companies to refrain from suing shareholders over disagreements about their proposals.
The group, which represents $4.4 trillion in assets under management, said long-term investors would suffer if companies increasingly seek the judgment of a court to settle disagreements on shareholder proposals, reported Reuters.