Exxon’s push to move its state of incorporation to Texas from New Jersey will “disenfranchise shareholders,” New York City Comptroller Mark Levine says.
- The move “sets the state for the potential erosion of shareholder rights under Texas state law,” Levine says in a proxy filing
- NOTE: Levine is an investment adviser and custodian of five New York City pension funds with about $320 billion of assets under management
- State of New York is Exxon’s 68th biggest shareholder, according to data compiled by Bloomberg
- Read more:
Exxon Eyes Texas as Legal Home After 144 Years in New Jersey
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