Exxon Eyes Texas as Legal Home After 144 Years in New Jersey (1)

Exxon Mobil Corp. is seeking to shift its legal home to Texas after being incorporated in New Jersey for more than a century.

In a proxy filing on Tuesday, North America’s biggest oil company said moving would mean operating in a more favorable business environment where officials are more familiar with its operations, provide greater certainty for decision-making, and align its legal and physical headquarters. Exxon asked investors to vote in favor of the transfer in its annual shareholder meeting in May.

Domiciling in Texas “may reduce the risk of future frivolous litigation against the Texas Corporation and its directors ...