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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRex Tillerson is being named personally by the NY AG as having perpetrated fraud at Exxon
Link to tweet
Investors put their money and trust in Exxon. And Exxon assured them of the long-term value of their shares, claiming to be factoring in the risk of increasing climate change regulation into its business decisions. Our investigation found that Exxon often did no such thing.
Instead, Exxon built a facade to deceive investors into believing the company was managing the risks of climate change regulation to its business when, in fact, it was intentionally & systematically underestimating or ignoring them, despite public representations to the contrary.
The fraud alleged in todays suit reached the highest levels of Exxon management, including former Chairman & CEO Rex Tillerson. The law is clear: corporations must tell investors the truth. My office will hold accountable those who dont.
diva77
(7,643 posts)Great to see that NY AG has continued pursuing this!!!
BigmanPigman
(51,610 posts)What a surprise! I was equally surprised to hear big Pharm lying about addictive opioids and big Tobacco lying about lung cancer.
I guess that allowing corporations to be considered the same as people who donate to political campaigns by the SCOTUS is correct and I should believe that they are interested in the citizens and the country and not profits. Double
bullwinkle428
(20,629 posts)NCjack
(10,279 posts)Hekate
(90,714 posts)I am sure grateful for New York's AG.
EleanorR
(2,393 posts)gratuitous
(82,849 posts)It's slipped down the memory hole, but Tillerson often used the online alias Wayne Tracker to bolster support for himself (it being beneath the dignity of a master of the universe to make his own case where the great unwashed could just read it). I hope some of Wayne's online posts make an appearance in the case.
Native
(5,942 posts)FakeNoose
(32,645 posts)I'm glad they named Rex Tillerson personally, but how much dough did he lose? Probably none.
He probably "divested" of all Exxon stock before he became SoS, and it was just in time too.