Northern Trust has sought clarification on a lawsuit brought about by a number of plaintiffs' action lawyers.
As reported on InvestorDaily and overseas media, ExxonMobil was part of the legal action.
Northern Trust, however, has confirmed that ExxonMobil is not part of the legal action.
"This is an action brought by a number of plaintiffs' class action lawyers on behalf of one individual, Joseph L. Diebold. In fact, ExxonMobil is not a party to the suit," a statement from the firm said.
The action is centred around securities lending and the alleged misuse of investments in risky assets.
"Northern Trust followed prudent guidelines for the investment of securities lending related funds or collateral referenced in this matter. Any losses incurred in the collateral pools were due to unprecedented global market conditions - not risky investments," the statement said.
"Northern Trust intends to vigorously defend its actions in relation to the Joseph L. Diebold lawsuit."
