The showdown over whether two activist investors in Exxon Mobil would be allowed to put their proposal calling for emissions cuts to a shareholder vote at the company’s annual meeting has fizzled out.

The Houston-based energy giant on Jan. 21 filed a federal lawsuit in Texas asking the court to declare that it had the legal right to cast aside the proposal, which it called an abuse of the shareholder-proposal process and an effort to micromanage its affairs.