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Exxon Mobil is suing its shareholders to silence them about global warming (www.latimes.com)

submitted 3 months ago by [email protected] to c/[email protected]

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In case of paywall: http://archive.today/M5OFY

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[–] [email protected] 30 points 3 months ago* (last edited 3 months ago) (1 children)

This is due to activist investors.

That's people who'll buy up enough stock to be allowed at shareholders meetings and then they'll fucking DRILL the C-suite non-stop, derailing the meetings.

It's a good strategy, even if it forces you in bed with evil. Make the rest of the shareholders undeniably knowledgeable and then theyll have to contend with shame or don the moniker themselves. Or start demanding ethical business practices themselves, which is what the lawsuit is ultimately trying to avoid.

[–] [email protected] 1 points 3 months ago

It’s not worth my time & effort to look into these particular investors’ true motivations, but as a rule they’re no more or less to be trusted than the C-suite itself. In almost all cases this is just a game to these people for topping off their Scrooge McDuck swimming pools.