Thus the plaintiffs in the just-completed case were Rosemary Haylock, a Southern Petroleum shareholder, Stuart Cairns and Hugh Green and the defendants Jim Patek and Shell Exploration. Shell is responsible for all the plaintiffs' and defendants' costs.
HSBC's stormy annual meeting is the latest high water mark in the tide of shareholder discontent. Add it to the experiences of Royal Dutch Shell, BP and GlaxoSmithKline over recent weeks and the message is clear: investors are fed up with being seen as weak. The French government is threatening to curb "perfectly scandalous" pay packets for executives in underperforming companies, while the Dutch want to tax executive bonuses and severance packages.
DALLAS Exxon Mobils chairman and chief executive, Rex W. Tillerson, defeated a shareholder effort on Wednesday to take away one of his jobs at an annual meeting punctuated by a debate of the companys policy toward renewable energy and global warming.
Companies failing to address environmental concerns will damage their profitability in the long term.
Last week, almost half of Royal Dutch Shell's investors refused to approve its remuneration report because of concern about retention bonuses for three directors, while almost 40 per cent of shareholders in GlaxoSmithKline also abstained or voted against its report for the same reason.
The case is the first insider trading case to make it to the High Court and last year shareholder spokesman Tony Gavigan said getting the matter to trial had cost about $8 million, similar to the amount he claimed Shell had spent defending the case.