07:42 AM EDT, 06/18/2024 (MT Newswires) -- A US judge dismissed Exxon Mobil's ( XOM ) lawsuit against activist group Arjuna Capital after the group agreed not to pursue future proxy filings at the company's annual meetings, according to media reports.

The Exxon lawsuit was ruled no longer valid by District Court Judge Mark Pittman after Arjuna "unconditionally and irrevocably" agreed not to submit a future proposal regarding Exxon's greenhouse gas emissions, Reuters reported.

"Our lawsuit put a spotlight on the abuse of the shareholder-access system," Exxon told Reuters in a statement "The court has made absolutely clear that Arjuna cannot continue abusing the process. Shareholder democracy is only as strong as the rules that govern it, which must be fairly and consistently applied."

Exxon Mobil ( XOM ) and Arjuna Capital did not immediately respond to MT Newswires' request for comment.

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