Could $200 Billion Tobacco-Type Settlement Be Coming Over ‘Climate Change?’
Image by Ron Mader | Planeta
At the Big Law Business Summit last week, New York State Attorney General Eric Schneiderman ripped into Exxon Mobil for its stance on climate change, reports Bloomberg.
The report says Schneiderman accused Exxon of glossing over the risks that climate change poses to its core businesses in its public securities statements, and then couching its disclosure as first amendment protected.
“The first amendment doesn’t protect fraud – it doesn’t protect fraudulent speech,” he said.
Seventeen state attorneys general are investigating whether fossil fuel companies mislead investors in public disclosures about the risks associated with climate change.
