The complaint, filed in a U.S. District Court in Texas, said a proposal by activist investors calling for the oil giant to cut emissions faster would not create shareholder value.

The complaint, filed in a U.S. District Court in Texas, said a proposal by activist investors calling for the oil giant to cut emissions faster would not create shareholder value.

Exxon Mobil is suing two activist investors to prevent their proposal calling for emissions cuts at the oil giant from going to a vote of shareholders.

In a complaint filed in U.S. District Court for the Northern District of Texas on Sunday, Exxon accused the investors, Arjuna Capital and Follow This, of abusing the process for proposing shareholder votes to advance their priorities with votes “calculated to diminish the company’s existing business.”

Arjuna filed a proposal in December for a nonbinding resolution that urged Exxon to accelerate its plans to reduce its carbon emissions and expand the scope of the emissions it measures to include its suppliers and customers. Follow This joined in support of the proposal shortly thereafter, according to the complaint.

The proposal “does not seek to improve ExxonMobil’s economic performance or create shareholder value,” Exxon said in the complaint, but is instead “constraining and micromanaging” the company’s operations.

Non-paywall link

  • thefartographer@lemm.ee
    38·
    8 months ago

    When asked for comment, ExxonMobil cried and shit itself and said it wanted its Daddy. The active judge then disrobed, revealing his withered body and began to breastfeed ExxonMobil while saying “there’s my special big boy, Daddy won’t let the mean shareholders hold you accountable ever.” When the judge’s back was turned, reporters noticed a tattoo across his shoulders which read “Their Delicious Souls” with tattoos of dozens of screaming babies under it. One member of the plaintiff’s council then shouted, “oh my God! Those aren’t tattoos!” Everyone began to scream and run, but before they could exit the courtroom, scores of souls cursed in eternal damnation leapt from the judge’s back and consumed victims in horrible ways that resulted in scarred visions this reporter will never unsee. “Amateurs,” claimed ExxonMobil, who then shitted themselves one final time and the awful sludge rolled down their legs and killed an entire Brazilian tribe just before choking a bunch of ducklings for fun.