As I recently predicted, New York Attorney General Letitia James lost the case against ExxonMobil alleging fraud under New York’s Martin Act over the company’s reporting about the cost of carbon. The judge case made clear he wasn’t going to let politics infect his interpretation of the narrow claim at issue in the case when he wrote, “This is a securities fraud case, not a climate change case.”

The political gamesmanship that a small set of conflicted liberal shareholders have long played with shareholder votes to engage companies on climate change and other pet social issues is just now beginning to affect the securities fraud litigation world, but thankfully, this judge was having none of it.