Exxon Rejects Arjuna Capital’s Climate Proposal Withdrawal in Texas Lawsuit
America ı By Rochdi Rais
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Exxon continues to push for a court ruling that climate proposals like the one put forth by Arjuna violate SEC rules against shareholder proposals that target the day-to-day functioning of a business, despite the fact that the adviser withdrew the proposal after being sued.
Judge Pittman refused an earlier request by Arjuna to dismiss the lawsuit after promising not to resubmit a similar proposal in the future, saying that the promise was "not an enforceable contract."
Exxon is represented by Mark W. Rasmussen, Jonathan D. Guynn, Noel J. Francisco, Brett A. Shumate and Megan Lacy Owen of Jones Day, Gregg J. Costa and David Woodcock of Gibson Dunn & Crutcher LLP and Ralph H. Duggins and Scott Fredricks of Cantey Hanger LLP.
Arjuna Capital is represented by Matthew E. Miller and Veronica M. Renzi of Foley Hoag LLP and Ross Mortillaro and Zachary Ford of Stinson LLP.
The case is Exxon Mobil Corp. v. Arjuna Capital LLC et al., case number 4:24-cv-00069, in the U.S. District Court for the Northern District of Texas.
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