Green Group Calls On SEC To Fine Chevron

Law360, New York (March 26, 2008, 12:00 AM EDT) -- An environmental group has urged the U.S. Securities and Exchange Commission to sanction oil giant Chevron Corp. for allegedly misleading shareholders about a potential $10 billion damages bill it faces.

The group, Amazon Watch, said Wednesday that it had written a letter to SEC chairman Christopher Cox claiming Chevron “spoon-fed” investors with “falsifications, exaggerations, omissions and misleading public statements” to understate its liability in a lawsuit over an oil spill in Ecuador's Amazon region.

The suit, brought in an Ecuador superior court on behalf of thousands...
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