California's Treasurer Ma urges votes against two Exxon directors [Reuters]
Exxon Mobil Corporation (XOM)
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Source: Reuters
against two Exxon directors because of the energy company's unusual lawsuit against small investors. Exxon filed the suit in January seeking to block a , sidestepping the usual regulatory process to fend off activist measures. The filers withdrew the resolution, but Exxon continued the suit seeking legal costs and other relief. Activist investors say the suit threatens shareholder influence. Some are campaigning for at Exxon's May 29 online-only annual meeting, CEO Darren Woods and Lead Independent Director Joseph Hooley. In statements sent by a representative on Friday, Ma said both the California Public Employees' Retirement System and the California State Teachers' Retirement System should cast their votes against both directors over the matter. “Exxon's actions are a serious threat to shareholder rights and require a strong response," Ma said. The systems "have a responsibility lead on issues that threaten to undermine shareowners,” she said. CalPERS and CalSTRS together
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XOM
News
- US judge allows ExxonMobil to pursue suit against climate activist [Financial Times (FT.com) (UK)]Financial Times
- Judge rules Exxon can sue activist shareholder over climate proposal [MSNBC.com]MSNBC.com
- Democrats Send Big Oil Investigation to Justice Department [Yahoo! Finance Canada]Yahoo! Finance Canada
- Exxon Suit Challenging Activist Climate Proposals Moves Ahead [BNN Bloomberg (Canada)]BNN Bloomberg
- Microplastics Have Been Found In Human Blood, Hearts, Testicles—Here's How They Got There [Forbes]Forbes
XOM
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- 4/26/24 - Miss
XOM
Sec Filings
- 5/21/24 - Form PX14A6G
- 5/20/24 - Form DEFA14A
- 5/20/24 - Form PX14A6G
- XOM's page on the SEC website