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Texas Federal District Court Finds for Defendants in Post-Jander Stock Drop Case
October Three Consulting Link to more items from this source
Feb. 13, 2019
"The court found that this proposed alternative action did not pass the 'more harm than good test': 'The Court cannot say that attempting to prevent Exxon's alleged misrepresentations would have been so clearly beneficial that a prudent fiduciary could not conclude that it would be more likely to harm the fund than to help it.' ... The court also rejected plaintiffs' (Jander-based) 'disclosure was inevitable' argument, finding that 'investigations into [as distinguished from the filing of charges against] Exxon by state attorneys general and the SEC' did not make it inevitable that the non-public information 'would come to light.' " [Fentress v. Exxon Mobil Corp., No. 16-3484 (S.D. Tex. Feb. 4, 2019)]

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