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Exxon Investors' Climate Suit Beats Dismissal Bid

Law360 (August 14, 2018, 11:07 PM EDT) -- A Texas federal judge denied Exxon Mobil Corp.’s bid to nix a putative securities fraud class action accusing the oil giant of concealing its climate change knowledge, ruling Tuesday that investors sufficiently pled alleged misstatements and mostly met the heightened pleading standard for bringing the suit.

A federal judge in Texas has allowed a suit alleging Exxon duped investors over climate change costs to move forward. (AP) Exxon had argued that lead plaintiff Greater Pennsylvania Carpenters Pension Fund was attempting to “manufacture” a securities fraud claim out...
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