Exxon's Victory In New York Climate Suit May Set A Precedent
By Nicholas Fox and John Parker (December 20, 2019, 4:02 PM EST) -- On Dec. 10, Judge Barry R. Ostrager cleared Exxon Mobil Corp. in a hotly contested litigation case that was pending in the Supreme Court of the State of New York, County of New York. The verdict followed a bench trial in October, at which New York state attorney general Letitia James alleged that Exxon defrauded investors by inflating the company's value with internal climate risk metrics.
Specifically, James argued that Exxon made misrepresentations and material omissions from late 2013 through 2016 about how it managed the risks of climate change amid increasing regulations. In its opinion, the court ruled that James...
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