Currents - Energy Industry Insights - November 2018

William Herlihy, Nicholas Preservati
Spilman Thomas & Battle, PLLC
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New York Sues Exxon Mobil, Saying It Deceived Shareholders on Climate Change -

"The litigation, which follows more than three years of investigation, represents the most significant legal effort yet to establish that a fossil fuel company misled the public on climate change and to hold it responsible."

Why this is important: The New York Attorney General just filed suit against Exxon under the state's Martin Act, which was named the "worst law in America" by the Wall Street Journal earlier this year. Much of the criticism centers on the fact that the "anti-fraud" law does not require the state to actually prove a defendant had the intent to defraud....

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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