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December 10, 2019

Exxon Found Not Guilty of Fraud in Climate Case

A New York judge cleared Exxon of fraud charges today, saying the state didn’t prove the company misled investors about future climate change-related regulations.

New York State Supreme Court Justice Barry Ostrager said the state’s attorney general failed to prove “that ExxonMobil made any material misstatements or omissions about its practices and procedures that misled any reasonable investor.” The state charged the company with fraud under a host of securities laws, including the state’s unique Martin Act.

The company still faces a similar lawsuit in Massachusetts.

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