Exxon Faces Consequences For Climate Denial
ExxonMobil, the $78 billion fossil fuel giant, has been lying to its shareholders about the threats of climate change, according to New York Attorney General, Barbara Underwood, following a multi-year investigation. The New York state lawsuit, filed Wednesday, accuses Exxon of a “longstanding fraudulent scheme” to mislead investors on “the company’s management of the risks posed to its business by climate change regulation,” according to The New York Times. Citing messaging to the public that was inconsistent with internal practices, Underwood brought the lawsuit under the Martin Act, which empowers her to investigate and prosecute securities fraud.