Following today of investigations, the New York's attorney general is suing Exxon Mobil, alleging it deceived shareholders by playing down the predicted risks of climate change to its business. This marks the most significant legal move yet against a fossil fuel firm to make it responsible for misleading the public over climate change. Although it is not charging Exxon Mobil for its role in creating climate change, it is a shareholder fraud lawsuit for which the New York attorney general has a high success rate. This could be costly for Exxon, not only financially but for its reputation.
Following three years of investigations, the New York's attorney general is suing Exxon Mobil, alleging it deceived shareholders by playing down the predicted risks of climate change to its business. This marks the most significant legal move yet against a fossil fuel firm to make it responsible for misleading the public over climate change. Although it is not charging Exxon Mobil for its role in creating climate change, it is a shareholder fraud lawsuit for which the New York attorney general has a high success rate. This could be costly for Exxon, not only financially but for its reputation.