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Exxon is cleared in New York climate-change case

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Exxon did not mislead shareholders over the true cost of climate change, a New York judge ruled Tuesday, ending the oil giant’s multiyear battle against New York’s attorney general.

“The Office of the Attorney General failed to prove, by a preponderance of the evidence, that ExxonMobil made any material misstatements or omissions about its practices and procedures that misled any reasonable investor,” Judge Barry Ostrager of the trial-level state Supreme Court wrote in his ruling.

“The office of the Attorney General produced no testimony from any investor who claimed to have been misled by any disclosure, even though the Office of the Attorney General had previously represented it would…



Source cnbc.com

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