✔A.G. Underwood Files Lawsuit Against Exxonmobil For Defrauding Investors Regarding Financial Risk

[Bfd]

https://ag.ny.gov/press-release/ag-underwood-files-lawsuit-against-exxonmobil-defrauding-investors-regarding-financial
A.G. Underwood Files Lawsuit Against Exxonmobil For Defrauding Investors Regarding Financial Risk

The Company Faces From Climate Change Regulations
Investigation into Exxon’s Business Practices Uncovered an Alleged Fraudulent Scheme to Systematically and Repeatedly Deceive Investors About the Significant Impact That Future Climate Change Regulations Could Have on the Company’s Assets and Value

Alleged Fraud Reached Highest Levels, as former Chairman and CEO Rex Tillerson Knew of Misrepresentations for Years
MORE AT LINK

From NY AG Twitter:
https://mobile.twitter.com/NewYorkStateAG/status/1055145833593794561

Link to tweet

NY AG Underwood
@NewYorkStateAG
·
Oct 24
Replying to
@NewYorkStateAG
*Investors put their money and trust in Exxon. And Exxon assured them of the long-term value of their shares, claiming to be factoring in the risk of increasing climate change regulation into its business decisions.

Our investigation found that Exxon often did no such thing.

*Instead, Exxon built a facade to deceive investors into believing the company was managing the risks of climate change regulation to its business when, in fact, it was intentionally & systematically underestimating or ignoring them, despite public representations to the contrary.

*The fraud alleged in today’s suit reached the highest levels of Exxon management, including former Chairman & CEO Rex Tillerson.

The law is clear: corporations must tell investors the truth. My office will hold accountable those who don’t.
------

Link to tweet

[manor321]

1. If Exxon loses they will keep appealing to get it to the Supreme Court