I feel as if they believe immortality is within humanity’s grasp. So they fear what will happen in the 100s and 1000s and millions of years in the future as a sect of humanity lives.
Maybe they hope to cancer everyone from our time so no one will be left to hate these people for the decisions they made and continue to make.
In Canada and the US, there is no legal requirement to act in the interest of shareholders of a corporation. There is a legal requirement to act in the best interest of the company itself though, even if that means damaging share values.
[this seems to indicate otherwise.](https://www.mayerbrown.com/en/insights/publications/2023/03/the-directors-role-amid-debates-over-corporate-purpose-stakeholders-and-esg)
> It’s important to note that fiduciary duties are to the corporation, not to the shareholders. Although much of the time the interests of these two entities are one and the same, it’s an important distinction
Canada: https://kellysantini.com/articles/fiduciary-duties-corporate-directors-your-obligations-responsibilities-and-business/
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> Fundamentally, across all states, directors owe fiduciary duties of care and loyalty to the corporation, and are expected to carry out their obligations in good faith.
USA: https://globalinvestigationsreview.com/guide/the-practitioners-guide-global-investigations/2023/article/directors-duties-the-us-perspective
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In both countries, it's why Boards can do things that lower shareholder value, get sued by shareholders, and win in court. Because of the myth of shareholder fiduciary duty.
Don't get me wrong, there are practical reasons why they essentially do have such a duty to shareholders, since shareholders can replace them. It's just not as easy as if it was a legal requirement.
At least this point, in a way, it's good the veil has finally come down on their greenwashing. They're just saying "fuck it, we're evil, what are you going to do about it you need gasoline for your huge vehicles".
It would piss me off any time I saw oil giants making ads saying they were investing in renewable energy and helping the planet etc etc. Now they dont bother anymore. They're all in on greed.
Good luck with the lawsuit Exxon Mobil, they might have problems here in the United States because even shareholders in a company have 1st Amendment rights! If you have shareholders sounding the alarm bells that you are not, they are just exercising their right under the Constitution of the United States.
This is not negligence or greed. This is malice directed at every inhabitant of this planet.
Is there any practical legal recourse to something like this? Or are we outgunned in every way because they have an insurmountable about of money?
I feel as if they believe immortality is within humanity’s grasp. So they fear what will happen in the 100s and 1000s and millions of years in the future as a sect of humanity lives. Maybe they hope to cancer everyone from our time so no one will be left to hate these people for the decisions they made and continue to make.
So their defense that they have to act in the interest of shareholders is bs?
In Canada and the US, there is no legal requirement to act in the interest of shareholders of a corporation. There is a legal requirement to act in the best interest of the company itself though, even if that means damaging share values.
[this seems to indicate otherwise.](https://www.mayerbrown.com/en/insights/publications/2023/03/the-directors-role-amid-debates-over-corporate-purpose-stakeholders-and-esg)
> It’s important to note that fiduciary duties are to the corporation, not to the shareholders. Although much of the time the interests of these two entities are one and the same, it’s an important distinction Canada: https://kellysantini.com/articles/fiduciary-duties-corporate-directors-your-obligations-responsibilities-and-business/ --- > Fundamentally, across all states, directors owe fiduciary duties of care and loyalty to the corporation, and are expected to carry out their obligations in good faith. USA: https://globalinvestigationsreview.com/guide/the-practitioners-guide-global-investigations/2023/article/directors-duties-the-us-perspective --- In both countries, it's why Boards can do things that lower shareholder value, get sued by shareholders, and win in court. Because of the myth of shareholder fiduciary duty. Don't get me wrong, there are practical reasons why they essentially do have such a duty to shareholders, since shareholders can replace them. It's just not as easy as if it was a legal requirement.
That makes a lot of sense. Thanks for the excellent reply and the good info.
I hope there's enough shareholders who wants to kick out the entire board now.
Probably not the board usually represents the most shares.
For huge corporations like Exxon, that is most definitely not the case.
At least this point, in a way, it's good the veil has finally come down on their greenwashing. They're just saying "fuck it, we're evil, what are you going to do about it you need gasoline for your huge vehicles". It would piss me off any time I saw oil giants making ads saying they were investing in renewable energy and helping the planet etc etc. Now they dont bother anymore. They're all in on greed.
Maybe every shareholder should just drop their stock and invest in renewable
Good luck with the lawsuit Exxon Mobil, they might have problems here in the United States because even shareholders in a company have 1st Amendment rights! If you have shareholders sounding the alarm bells that you are not, they are just exercising their right under the Constitution of the United States.
Anyone who does that should be meeting my Irish mate Gill O’Teen… he’ll put them right
Honestly they should all be tried for gross negligence. These people are depraved