Exxon Wants Shareholder's Climate Change Suit Dismissed

Law360 (August 12, 2020, 2:09 PM EDT) -- Exxon Mobil Corp. and some of its executives are asking a Texas federal judge to dismiss a consolidated derivative shareholder suit alleging the company misrepresented climate change-related business projections, arguing that its board already looked into the allegations and concluded they were "entirely without merit."

In a dismissal motion citing the corporate law of New Jersey, where Exxon is incorporated, the company and its brass told U.S. District Judge Ed Kinkeade on Monday that its board members had determined, in good faith, that "derivative litigation is not in the corporation's best interests."

"An independent board of directors has the authority to...

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