No. 452044/2018 (N.Y. Sup Ct. Oct 24, 2018)
Firm: Paul, Weiss, Rifkind, Wharton & Garrison
Issue Area: Environment, Climate, & Fossil Fuels
Paul Weiss defended Exxon Mobil in a prominent lawsuit alleging that Exxon misled investors about risks from climate change. The firm boasts about this result on its website, congratulating itself on having "eviscerated" the plaintiff's expert witness and winning a "complete defense verdict."
Among other things, Paul Weiss argued that shareholders had "assumed the risk" that Exxon would mislead them about the risks climate change presents; it then argued that the plaintiffs' allegations "are barred, in whole or in part, by the doctrine of assumption of risk."