23:55:00 EDT Thu 09 May 2024
Enter Symbol
or Name
USA
CA



Exxon Mobil CDR (CAD Hedged)
Symbol XOM
Shares Issued 1,000,000
Close 2024-02-08 C$ 19.71
Market Cap C$ 19,710,000
Recent Sedar Documents

Globe/wire say Exxon Mobil urged to drop lawsuit

2024-02-09 07:28 ET - In the News

The Globe and Mail reports in its Friday, Feb. 9, edition that a group of religious investors urged Exxon Mobil to drop a lawsuit against climate activists, saying in a letter to the energy company's board that the action is a broad threat to shareholder rights. A Reuters dispatch to The Globe reports that a Feb. 7 letter from the Interfaith Center on Corporate Responsibility states, "This unprecedented suit risks alienating shareholders, harming Exxon's reputation, and undermining the Securities and Exchange Commission" by sidestepping the usual regulatory path companies use to block resolutions. The group represents religious investors and other socially minded institutions with about $4-trillion (U.S.) in total assets. Members include Arjuna Capital of Massachusetts. It and Amsterdam-based activist group Follow This had filed a shareholder proposal calling on Exxon to strengthen its targets for emissions cuts. On Jan. 21, Exxon sued to block the resolution, breaking with the traditional process in which companies ask U.S. regulators for permission to skip votes at their annual meetings. The filers then withdrew their proposal, but Exxon has continued the lawsuit seeking to recover legal costs and other relief.

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