Exxon Win Casts Doubt On Climate Securities Fraud Suits

By Keith Goldberg (December 10, 2019, 8:35 PM EST) -- Exxon Mobil Corp.'s resounding victory over New York's allegations that it duped investors about the climate change-related risks to its business shows that government officials and investors will have a tough time using securities laws to pursue climate-related suits against energy companies.

A New York state judge said Tuesday that state Attorney General Letitia James' office failed to support its blockbuster allegations that Exxon made material misstatements about how it accounted for climate-related risks and that its climate disclosures had a material impact on investors. That's the threshold for sustaining claims under the Martin Act, the powerful New York securities law...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!