Exxon wins first-of-its-kind climate change case against New York December 10, 2019, Josh Seigel, Washington ExaminerExxon
Mobil won a first-of-its-kind climate change fraud trial on Tuesday as a judge rejected the state of New York’s claim that the oil and gas giant misled investors in accounting for the financial risks of global warming. New York Supreme Court Justice Barry Ostrager said the state failed to prove that Exxon violated the Martin Act, a broad state law that does not require proof of intent of shareholder fraud. “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,” Ostrager wrote in a 55-page ruling, deciding the case without a jury. The Democrats in NY spent three years working on this before filing the suit, but apparently didn’t realize they were barking at clouds the whole time? New York Assistant Attorney General Jonathan Zweig announced during his closing statement that the state would no longer be claiming Exxon knowingly and willfully misled investors on how it accounts for the financial risks of climate change.
