Halliburton Chief Distances Company From KBR

That agreement to assist KBR was fully disclosed in Halliburton's financial statements, Lesar said.

"But the legal separation has occurred, and there is no longer any connection between the two organizations," he said.

That hasn't stopped some groups from continuing to associate the two companies, particularly when it comes to overseas work.

Just last week, the Policemen and Firemen Retirement System of the City of Detroit filed a lawsuit in Texas state court accusing KBR and Halliburton of poor internal controls that have led to a variety of scandals and diminished investors' holdings. In its suit, the municipal pension fund mentions the Nigerian case as well as KBR's operations in Iraq.

At Wednesday's meeting, the Office of the Comptroller of New York City submitted a shareholder proposal to establish a committee of independent directors to review allegations of financial misconduct and human rights abuses by Halliburton in Iraq. The comptroller's office said it is custodian and trustee of the New York City Employees' Retirement System and the New York Board of Education Retirement System.

Halliburton urged shareholders to vote against the proposal, and it was defeated.