Class-Action Lawsuit Adds To ExxonMobil’s Climate Change Woes
By David Hasemyer for Inside Climate News - ExxonMobil shareholders have filed a class-action lawsuit against the company, alleging it misled its investors and the public by failing to disclose the risks posed to its business by climate change. The alleged deception resulted in stockholders paying inflated prices for Exxon stock and subjected them to financial losses because the company knew the value of its oil reserves was less than what it was telling investors, according to the lawsuit filed in Texas federal court earlier this month.