Shareholder activism.

A federal court in Texas dismissed ExxonMobil's lawsuit against activist investors after Arjuna Capital withdrew its proposal seeking to speed up cuts in greenhouse emissions, Bloomberg reports.

Instead of asking the U.S. Securities and Exchange Commission to block a shareholder proposal, Exxon's "novel approach" sets a precedent for other companies seeking to discourage such proposals.

Amena H. Saiyid

Washington D.C. Correspondent