New York Sues Exxon Over Climate-Change Disclosures
24 Octobre 2018 - 8:36PM
Dow Jones News
By Patrick Thomas
The state of New York is suing Exxon Mobil Corp. alleging the
company misled shareholders by playing down the possible risks of
climate change to its business.
New York Attorney General Barbara Underwood said in the lawsuit
filed Wednesday that the company assured investors that it had been
accounting for the risks of the governmental regulation of climate
change. But, the complaint said, the company didn't properly assign
those costs in its business activities.
The suit alleges Exxon executives, including former Chairman and
Chief Executive Rex Tillerson, of knowing for years that the
company was deviating from what it told the public by using a
second set of proxy costs from undisclosed internal guidance that
were lower than the ones publicly disclosed.
An Exxon Mobil representative couldn't immediately be reached
for comment.
The lawsuit, filed in New York Supreme Court, comes after
securities regulators earlier this year ended an investigation into
whether the oil giant misled investors about its accounting
practices and climate change risks.
Shareholders last year pushed Exxon to measure how regulations
to reduce greenhouse gases and new energy technologies could impact
the value of its oil assets.
Write to Patrick Thomas at patrick.thomas@wsj.com@wsj.com
(END) Dow Jones Newswires
October 24, 2018 14:21 ET (18:21 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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