Texas Federal Judge Dismisses Second Amended Complaint In ERISA Suit Against Exxon

Mealey's (February 6, 2019, 2:09 PM EST) -- HOUSTON — A Texas federal judge on Feb. 4 granted Exxon Mobil Corp.’s motion to dismiss a second amended class action complaint asserting that the company and its officers failed to prudently manage a defined contribution benefit plan’s assets pursuant to the Employee Retirement Income Security Act because the plaintiffs failed to show that corrective disclosures would have benefitted rather than harmed the plan (Bobby D. Fentress, et al. v. Exxon Mobil Corporation, et al., No. 16-3484, S.D. Texas, 2019 U.S. Dist. LEXIS 16934)....