ExxonMobil is seeking to prevent some investors from using what it called a “Goldilocks Trojan Horse” strategy to diminish existing business operations. 

In a lawsuit filed earlier in January, the integrated major requested judicial relief to exclude a shareholder proposal by Arjuna Capital and Follow This. The lawsuit was filed in the U.S. District Court for the Northern District of Texas, Fort Worth Division (No. 4:24-cv-00069-O).

“Most shareholders invest in companies to help the companies grow and see a return on their investment,” ExxonMobil stated in the lawsuit. “But Arjuna and Follow This are not like most shareholders. Driven by an extreme agenda, they pursue what Follow This calls a ‘Goldilocks Trojan Horse’ strategy: They (or their clients) become...