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Exxon Mobil scores win in New York climate change lawsuit


Added 12-10-19 03:03:02pm EST - “Exxon Mobil Corp won a major victory in a closely-watched lawsuit on Tuesday whe...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Exxon Mobil scores win in New York climate change lawsuit”. Below is an excerpt from the article.

NEW YORK (Reuters) - Exxon Mobil Corp won a major victory in a closely-watched lawsuit on Tuesday when a judge ruled that the company did not defraud investors out of up to $1.6 billion by hiding the true cost of climate change regulation.

The ruling by Justice Barry Ostrager in Manhattan Supreme Court followed a trial featuring testimony from investors, experts and former Exxon Chief Executive Officer Rex Tillerson.

The judge found that the New York State Attorney General’s case failed to produce evidence that investors were misled. It was the first of several climate change lawsuits against major oil companies to go to trial.

Attorney General Letitia James said in a statement that her office “will continue to fight to ensure companies are held responsible for actions that undermine and jeopardize the financial health and safety of Americans.” She did not say whether she would appeal.

Exxon said that the ruling affirmed the company’s position that the investigation was “baseless.”

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