Massachusetts Top Court Rules Against Exxon in Climate Change Probe
Massachusetts' top court on Friday rejected Exxon Mobil Corp's bid to block the state's attorney general from obtaining records to investigate whether the company for decades concealed its knowledge of the role fossil fuels play in climate change. The Massachusetts Supreme Judicial Court ruled that Attorney General Maura Healey had jurisdiction to seek records to probe whether the oil company's marketing or sale of fossil fuel products violated the state's consumer protection law.
Exxon Blasts NY Prosecutor's Climate Probe as 'Reckless'
New York Attorney General Eric Schneiderman has requested more materials from the oil producer as part of an ongoing probe that has already reviewed nearly 3 million documents. The attorney general, who also wants to interview Exxon employees, has said Exxon withheld information about its internal climate change discussions and misled the public about what it knew. In a court filing on Friday,…
Exxon's Climate Change Math 'May Be a Sham' -NY Prosecutor
New York's top prosecutor on Friday increased pressure on Exxon Mobil to turn over records of internal assessments of the risks global warming poses to its businesses, claiming to already have evidence of "potential materially false and misleading statements by Exxon," court filings show. Attorney General Eric Schneiderman has been investigating whether the U.S. oil giant misled investors by publicly…
Texas Judge Kicks Exxon Climate Case to NY
A federal judge in Texas on Wednesday kicked an Exxon Mobil Corp lawsuit seeking to thwart two states from pursuing a fraud case over climate change to a Manhattan court, saying his court wasn't the best place to resolve the dispute. A group of state attorneys general, led by New York's Eric Schneiderman, brought a securities fraud suit against the world's largest publicly traded oil company in 2015 claiming it misled investors by soft-pedaling the dangers of climate change.
Judge Orders Exxon to Confer with New York AG on Tillerson Emails
A New York state judge on Wednesday ordered ExxonMobil Corp to work with the New York attorney general's office to try to recover lost emails from an alias account used by U.S. Secretary of State Rex Tillerson when he was the oil company’s chairman and chief executive. Justice Barry Ostrager, who is overseeing a probe by New York Attorney General Eric Schneiderman into whether Exxon misled the public and shareholders about the impact of climate change…
SEC Investigating Exxon's Asset Valuation
The U.S. Securities and Exchange Commission is investigating how Exxon Mobil Corp has valued its assets in the wake of plunge in oil prices, the Wall Street Journal reported, citing people familiar with the matter. The regulator sought information from Exxon and the company's auditor, PwC, in August, the Journal reported. The news follows reports last week that New York Attorney General Eric Schneiderman was investigating the company's accounting practices.
Exxon Probe Faces Uphill Task
New York Attorney General Eric Schneiderman faces an uphill climb in building a case against Exxon Mobil Corp for not writing down assets amid the oil-price slump because of the broad leeway that energy companies have enjoyed reporting under U.S. rules, accounting experts said. Schneiderman is investigating Exxon's accounting practices and why the oil giant has not taken writedowns even while oil prices have fallen, a person familiar with the matter told Reuters.
NY Investigating Exxon's Accounting Practices
New York Attorney General Eric Schneiderman is investigating Exxon Mobil Corp's accounting practices and why the company hasn't written down the value of its assets despite a steep drop in oil prices, WSJ reported, citing people familiar with the matter. A more than 60 percent plunge in oil prices since mid-2014 has forced oil producers worldwide to write down the value of their assets. In a note earlier this month…
Probe of Exxon's Climate Change Disclosures Expands
The top attorneys from Massachusetts and the U.S. Virgin Islands said on Tuesday they will investigate whether Exxon Mobil Corp misled investors and the public about the risks of climate change. Massachusetts Attorney General Maura Healey and Virgin Islands Attorney General Claude Earl Walker announced their probes at a news conference in New York, flanked by New York State Attorney General Eric Schneiderman, former U.S. Vice President Al Gore and top attorneys from other states.
Massachusetts to Launch Probe of Exxon's Climate Change Disclosures
Massachusetts is launching an investigation into whether Exxon Mobil Corp misled investors and the public about the risks of climate change, state Attorney General Maura Healey said on Tuesday. The move comes just a few months after New York Attorney General Eric Schneiderman subpoenaed Exxon to demand extensive financial records and emails in connection with its climate change disclosures. Earlier this year…
Rockefeller Fund hits Exxon, Sheds Fossil Fuels
The Rockefeller Family Fund said on Wednesday it would divest from fossil fuels as quickly as possible and "eliminate holdings" of Exxon Mobil Corp, saying the oil company associated with the family fortune has misled the public about climate change risks. Though only a sliver of the endowment's modest $130 million in assets is invested in fossil fuels, the move is notable because a century ago John D. Rockefeller Sr. made a fortune running Standard Oil, a precursor to Exxon Mobil.
Peabody Reaches Agreement on Climate Change Disclosures
Coal miner Peabody Energy Corp said it reached an agreement with the New York Attorney General's office to amend its climate change disclosures, bringing to an end an eight-year investigation. Peabody shares rose 5 percent to $15.27 in morning trading on Monday. News of the agreement comes days after reports that Attorney General Eric Schneiderman was probing Exxon Mobil Corp over whether the oil firm had misled the public and shareholders about the perils of climate change.
Anadarko, EOG to Disclose Fracking Risks to Investors
Anadarko Petroleum Corp and EOG Resources Inc have agreed to provide their investors with more information on the potential financial risks the companies face from fracking, New York's attorney general said on Friday. The agreement is part of a growing trend of energy companies saying they will provide investors with more details about the risks to their assets posed by climate change, or the legal, regulatory and environmental risks of fracking.
