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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.