New York AG Filed Lawsuit Against Exxon Mobil for Misleading Investors Regarding Risk of Climate Change Regulations

OCTOBER 24, 2018

New York Attorney General Barbara Underwood filed a lawsuit against Exxon Mobil Corp. alleging that the company “misled investors regarding the risk that climate change regulations posed to its business.” In the complaint, AG Underwood noted that Exxon Mobil spent years assuring investors that it was fully accounting for the probability of future regulations on greenhouse gas emissions, but that the company was privately failing to take any of the underlying action it had promised, hiding its financial exposure from investors.