Reserves

Exxon Faces Climate Disclosure Lawsuit

The world’s first shareholder-led lawsuit over alleged inadequate disclosures of climate risk has been filed against Exxon. ClientEarth thinks it could be the first of many such legal actions. The filing of the case, in the US, follows revelations in Exxon’s third quarterly financial reports that it may be forced to write down nearly 20% of its oil and gas assets (the equivalent of 3.6 billion …


Exxon Misled Investors About Climate Risks, Suit Says

ExxonMobil Corp. is misleading investors about the drop in its oil and gas reserves resulting from climate change risks and the decline in oil prices, according to a class action lawsuit filed in federal court ( Ramirez v. ExxonMobil Corp. , N.D. Tex., No. 16-cv-03111, complaint 11/7/16 ).