(Bloomberg) — Exxon Mobil Corp. won a closely watched securities-fraud trial that delved into its internal accounting for the financial risks of climate change, a striking rejection of New York state’s claim that the company misled investors for years.The ruling Tuesday by New York Supreme Court Justice Barry Ostrager in Manhattan is a blow to the state’s attorney general, Letitia James, who accused the energy company of lying about its use of a “proxy cost” for carbon to account for future climate-change regulations.“The office of the Attorney General failed to prove, by a preponderance of the evidence, that ExxonMobil made …read more
Source:: Yahoo Finance
