Philippe E. Mulacek v. ExxonMobil Corporation

Summary

The court affirmed dismissal of shareholders' complaint because the governing agreement unambiguously limited enforcement actions concerning the relevant covenants to the Required Holders or the Holder Committee. Although the covenants benefited all Holders, the agreement expressly negated any individual Holder's right to sue on their own behalf. The court concluded that the documentary evidence conclusively established the defense as a matter of law.