ExxonMobil Found Not Guilty In New York Climate Change Fraud Case

The New York Attorney General filed a lawsuit against Exxon Mobil, alleging it misled investors about the impact of climate change regulations by using different calculations for internal and external purposes. The lawsuit claimed this deception cost shareholders up to $1.6 billion. Exxon defended itself, stating that internal estimates served different purposes and did not affect financial statements. The judge ruled in favor of Exxon, stating the Attorney General failed to prove any material misstatements. Both Exxon and the Attorney General released statements post-verdict, with Exxon affirming its transparency and commitment to reducing emissions, while the Attorney General vowed to continue holding companies accountable.

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