October 24, 2018

The Attorney General of New York has filed a lawsuit against ExxonMobil for misleading investors about the risks it faces due to climate change, which has resulted in billions of dollars in losses to investors such as the New York State Common Retirement Fund and New York State Teachers Retirement System. For years, the oil and gas titan allegedly falsely represented to investors that it was accounting for the rising tide of climate change regulations to its business planning. In truth, it was accounting for far less than it should or not even accounting for it at all. AG NY

Tagged in: Financial and Investment Fraud, Misrepresentations, Securities Fraud,