SEC Should Probe Chevron Over $18B Ruling, House Rep. Says

Law360, New York (June 11, 2012, 5:24 PM EDT) -- House Energy & Commerce Committee member Rep. Jan Schakowsky, D-Ill., on Wednesday asked U.S. securities regulators to investigate Chevron Corp. for allegedly failing to fully inform the public about the risks associated with an $18.1 billion oil spill judgment in Ecuador against the company.

Schakowsky requested that the U.S. Securities and Exchange Commission review a recent report by a securities lawyer who represents the Ecuadorian plaintiffs. The attorney accused the company of misleading shareholders over the matter. Schakowsky is asking to determine whether the company violated...
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