In late April, in the ongoing case Ramirez v. Exxon Mobil Corp., et al., Exxon urged a Texas federal court to deny class certification to investors alleging the company withheld knowledge of climate change costs and misrepresented those costs publicly. Exxon is arguing that the alleged misrepresentations had no significant impact on the share price of the company’s stock and therefore the plaintiffs should be denied class certification because there are no grounds for the presumption of common reliance.
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