Posted on 12/10/2019 9:40:39 AM PST by caww
ExxonMobil won a first-of-its-kind climate change fraud trial on Tuesday as a 'judge rejected the state of New York's claim' that the oil and gas giant misled investors in accounting for the financial risks of global warming.
New York alleged that Exxon underrepresented the potential future costs to its business of climate regulations, deceiving investors about their true financial exposure.
“The office of the Attorney General failed to prove, by a preponderance of the evidence, that ExxonMobil made any material misstatements or omissions about its practices and procedures that misled any reasonable investor,” Ostrager wrote...
Exxon celebrated the ruling, saying it confirms their argument that addressing climate change is a shared global challenge better handled through public policy and that litigation threatens to undermine cooperation between the industry and policymakers.
"Today’s ruling affirms the position ExxonMobil has held throughout the New York Attorney General’s baseless investigation. We provided our investors with accurate information on the risks of climate change," Exxon said in a statement. "The court agreed that the Attorney General failed to make a case, even with the extremely low threshold of the Martin Act in its favor."
The conclusion of New York’s lawsuit is the first in a series of court battles playing out related to climate change and the role of oil and gas companies.
(Excerpt) Read more at washingtonexaminer.com ...
So, the state of New York took Exxon to court because supposedly Exxon had under reported the costs being laid on the energy industry due to the climate hysteria?! Say what?!
Yes it sounds like the global warming hysterics were throwing spaghetti at the wall, figuratively/legally speaking, to see if any would stick in court.
The most extreme enviro Nazis think that “evil fossil fuels” companies should be sued in court for their alleged violations of imaginary laws.
This is a case where loser pays is fully justified. Hope the State of New York is whacked with Exxon’s cost to defend against the frivolous case
State of New York should be ordered to pay all legal expenses incurred by XOM.
Like they did with tobacco, they’ll keep coming back at oil...
Good for XMO...Bankrupt New York State. Climate Change?
New York’s States AG is nothing but a leftist vindictive bitch. Could be Nancy Pelosi’s sister by another mother.
Hillary Clinton Demands Probe of Exxon After Oil Giant Stops Funding Clinton Foundation
In retaliation she sicced NYAG Eric Schneiderman on them...you know, NY...where she was Senator and where she is domeciled...
Silenced Spring: New York Attorney General Goes After Climate Wrongthink
See reply 9. Vindictive beotch might come to mind.
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