Chevron Investors Seek SEC Probe Over $19B Ecuador Battle

Law360, New York (May 23, 2013, 5:38 PM EDT) -- A coalition of Chevron Corp. shareholders asked the U.S. Securities and Exchange Commission on Thursday to investigate the oil giant over allegations it has misled investors about the potential impact of a bitterly contested $19 billion Amazonian pollution judgment.

The 14 shareholder groups claim Chevron’s management and board of directors may have violated securities law by failing to disclose the risks associated with the judgment, which has spawned a transnational enforcement battle and a bare-knuckled fight in New York court in which both sides have swapped...
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