Ferrell M. Keel

Once comparatively rare, shareholder proposal litigation has proliferated since the SEC's November 2025 announcement that it would no longer provide substantive responses to most Rule 14a-8 no-action requests. In the last month alone, shareholders have filed five lawsuits challenging the exclusion of their proposals under the SEC's revised process. By comparison, there were fewer than 30 such lawsuits in the previous 50 years. Settled New York City Employees' Retirement System v. AT&T Inc.

Ferrell Keel’s articles from Jones Day are most popular: with Senior Company Executives, HR and Finance and Tax Executives with readers working within the Accounting & Consultancy and Law Firm industries ExxonMobil's shareholders have overwhelmingly approved the company's proposal to reincorporate from New Jersey to Texas. More than 70% of shareholders supported the proposal, signaling broad investor buy-in for the move to Texas. The high level of support is notable for a few reasons.

ExxonMobil's shareholders have overwhelmingly approved the company's proposal to reincorporate from New Jersey to Texas. More than 70% of shareholders supported the proposal, signaling broad investor buy-in for the move to Texas. The high level of support is notable for a few reasons. First, unlike many of the other companies that have recently reincorporated to Texas, ExxonMobil does not have a single controlling or dominant shareholder capable of driving the vote.