Investors Ask Court to Throw Out Exxon Suit Over Climate Bid (1)

Shareholders are pushing back against a novel lawsuit from Exxon Mobil Corp. that seeks to shut down their efforts to prod the oil giant on its environmental policies.

The Houston oil company sued Arjuna Capital and Follow This in the US District Court for the Northern District of Texas, hoping to kill their proposal that asked the company to speed up its greenhouse gas emissions reductions. The shareholders have since dropped the proposal, but Exxon is persisting with its legal action, asking the court to block the investors from presenting future climate proposals.

The motion to dismiss from Arjuna Capital ...