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October 25, 2018

In the News Today – October 25, 2018

New York AG Sues Exxon For Allegedly Defrauding Investors Regarding Climate Change’s Effects on Business: Using a nearly 100-year-old securities law unique to the state, New York Attorney General Barbara D. Underwood sued Exxon yesterday for allegedly defrauding investors over how much climate change could affect the business. ILR President Lisa A. Rickard said the suit is a “contortion of the securities litigation system” that “will not help us confront the challenge of climate change.” (Washington Post)

“Time for Another Round of Securities Class Action Litigation Reform?”: Citing a new ILR research paper, D&O Diary’s Kevin LaCroix looks at what can be done to stem the rising tide of securities litigation. The paper calls on Congress to enact policies to stop “abusive practices that enable the filing of unjustified actions.” (D&O Diary)

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