A trial in which Exxon Mobil Corp stands accused of defrauding investors out of ...
- A trial in which Exxon Mobil Corp stands accused of defrauding investors out of up to $1.6 billion by hiding the true cost of climate change regulation is expected to wrap up this week.
It is one of dozens of lawsuits in the United States brought against oil companies and local and state governments over global warming. The following is a summary of how this litigation is playing out across the country:** The New York attorney general has accused the Texas-based company of using two sets of books to hide the true cost of climate change from investors.
** The Massachusetts attorney general filed a similar lawsuit in October accusing Exxon of misleading investors and consumers for decades about the role fossil fuels played in climate change. Exxon has denied the allegations. ** In addition to the litigation by attorneys general, Baltimore, Rhode Island and about a dozen local governments have sued oil and gas companies including BP Plc and Chevron Corp over climate change. The lawsuits claim the companies created a public nuisance by producing the fossil fuels that contributed to global warming. They seek funds to pay for seawalls and other infrastructure to guard against extreme weather and rising sea levels brought on by climate change.
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