Bloomberg Law
April 2, 2018, 8:54 PM UTC

Exxon Beats 401(k) Investors’ Lawsuit Over Inflated Stock

Carmen Castro-Pagan

•Exxon Mobil and its executives defeat 401(k) plan investors’ lawsuit challenging stock drop •Investors’ claims involve alleged company misrepresentations on climate change research •Judge grants investors chance to amend their allegations

Exxon Mobil Corp. defeated, for now, a lawsuit by investors in the company’s 401(k) plan accusing the company of violating federal benefits by allegedly knowing that company stock had become artificially inflated in value due to fraud and misrepresentation related to climate change research.

The investors failed to allege sufficient facts to bring a duty of prudence claim based on publicly available information against Exxon and its plan fiduciaries, ...

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