What NY And Mass. Exxon Climate Suits Mean For Other Cos.

Law360 (December 3, 2019, 3:29 PM EST) -- On Nov. 7, closing arguments wrapped in the trial of People of the State of New York v. ExxonMobil Corp. The case, which asserts that Exxon Mobil engaged in securities fraud, was the culmination of a multiyear investigation by the New York attorney general’s office into the alleged disconnect between Exxon’s internal accounting for the effects of climate change on its business ventures versus the proxy cost of climate change disclosed to its investors.

On Oct. 28, just as the New York case was starting trial, the Massachusetts attorney general’s office announced it was filing its own suit against Exxon, alleging...

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