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The Climate Litigation Database

City of Birmingham Retirement and Relief System v. Tillerson

Geography
Year
2019
Document Type
Litigation
Part of

About this case

Filing year
2019
Status
Complaint filed.
Geography
Docket number
3:19-cv-20949
Court/admin entity
United States → United States District Court for the District of New Jersey (D.N.J.)United States → United States Federal Courts
Case category
Securities and Financial Regulation (US)
Principal law
United States → Breach of Fiduciary DutyUnited States → Securities Act of 1933/Securities Exchange Act of 1934United States → State Law—Unjust EnrichmentUnited States → Waste
At issue
Shareholder derivative lawsuit against Exxon Mobil Corporation directors and officials concerning alleged misrepresentations of the company's use of proxy costs of carbon.
Topics
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Documents

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Filing Date
Document
Type
Topics
Search results
12/02/2019
Complaint filed.
The City of Birmingham Retirement and Relief System filed a stockholder derivative complaint in the federal district court for the District of New Jersey against Exxon Mobil Corporation officers and board members seeking damages for breaches of fiduciary duties, waste, and unjust enrichment. The complaint alleged that Exxon had for decades “misled shareholders about the material risks climate change posed and poses to its business in order to increase its short-term profits and falsely inflate its assets, revenues, and stock price.”
Complaint
–

Summary

Shareholder derivative lawsuit against Exxon Mobil Corporation directors and officials concerning alleged misrepresentations of the company's use of proxy costs of carbon.

 Topics mentioned most in this case

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Group
Topics
Policy instrument
Risk
Renewable energy
Fossil fuel
Greenhouse gas
Economic sector
Adaptation/resilience
Finance