Perceptions Give Way To Reality: ExxonMobil Cleared In Climate Change Trial [Forbes]
Exxon Mobil Corporation (XOM)
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Source: Forbes
As I explained last month in Exxon Knew. Did They, Though? I explained that the things I have seen as an insider frame my opinion of the climate change investigations involving ExxonMobil. To recap, the company is under investigation by several states, and was being sued by the state of New York, which charges that the company engaged in "a longstanding fraudulent scheme" on the the economic risks of climate change. Today the verdict came down. It was my expectation that outside perceptions would give way to reality, and that’s what happened. ExxonMobil was found not guilty Manhattan Supreme Court Justice Barry Ostrager’s ruling in favor of ExxonMobil stated in part: “The Office of the Attorney General failed to prove, by a preponderance of the evidence, that ExxonMobil made any material misstatements or omissions about its practices and procedures that misled any reasonable investor.” This isn’t surprising to me, but the public often conflates certain facts to develop an overall impr
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