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Feds reject Exxon Mobil bid to block shareholder proposal

2016-03-25 07:24:04| Oil & Gas - Topix.net

The Securities and Exchange Commission has rejected Exxon Mobil's bid to block a shareholder proposal that would require it to disclose how its business will be affected by a 2-degree target limit on global warming. The SEC Office of Chief Counsel said it disagrees with the Irving, Texas-based oil company that the proposal is "so inherently vague and indefinite" that neither shareholders nor Exxon Mobil could be certain what it requires.

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