U.S. Judge In Exxon Shareholder Case Allows Claim To Proceed Against Activist Shareholder Arjuna Capital; Denies Exxon Request For Discovery In Climate Change Shareholder Case; Rules Exxon Can Not Pursue Case Against Climate Advocate Follow This On Jurisdiction Issue
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A U.S. judge has allowed a claim to proceed against activist shareholder Arjuna Capital in a case involving ExxonMobil (XOM). The judge denied Exxon's request for discovery and ruled that Exxon cannot pursue a case against climate advocate Follow This on jurisdictional grounds.
May 22, 2024 | 4:51 pm
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A U.S. judge has allowed a claim to proceed against activist shareholder Arjuna Capital in a case involving ExxonMobil (XOM). The judge denied Exxon's request for discovery and ruled that Exxon cannot pursue a case against climate advocate Follow This on jurisdictional grounds.
The legal setbacks for ExxonMobil, including the denial of their discovery request and the inability to pursue a case against Follow This, could negatively impact investor sentiment in the short term.
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