3 ms·
Easier to campaign for other shareholders to vote for your proposal in advance. It can be like a political campaign, it's just rare for people to try it, but no
by vasco 3y ago
Easier to campaign for other shareholders to vote for your proposal in advance. It can be like a political campaign, it's just rare for people to try it, but nothing stops you from convincing other shareholders of voting for your resolutions well in advance of the meeting.
- cm2187 3y agoBut in this case the activism is explicitly about hurting the company financially. 1) it is unlikely that you convince other shareholders to vote against their interest 2) the board and management have a fiduciary to their shareholders, including the ones who do not vote (which is often the majority of shareholders, how often did you show up at the general assembly of a stock you own in your portfolio, or a stock held in an ETF which typically do not vote). I suspect this is what the Exxon lawsuit will argue.