So The State of NY Files a Lawsuit and Stock Value Drops

[GURPS]

New York Attorney General Barbara Underwood filed a long-awaited lawsuit against Exxon Mobil on Wednesday, claiming that the oil giant hid the financial risks of climate change from its investors — and that former CEO Rex Tillerson had signed off on the deception.

The civil suit, filed in state Supreme Court, claims the Texas-based company was “deceiving” investors by essentially using two sets of books to account for the rising costs of environmental regulations around the world.

Exxon shares shed 2.8 percent to close at $77.61.

Underwood claims that Exxon’s misrepresentations damaged shareholders, including the teachers and public workers with New York state pensions, because they were misled about the risks of climate change.


New York sues Exxon Mobil, claiming it hid climate change risks



so the State of NY causes the thing they are suing over said would happen in the 1st place, because Exxon down played Climate Change

 

[stgislander]

Where's Brian Frosh at?

 

[Kyle]

Where's Brian Frosh at?

He hasn't read the paper yet.

 

[Gilligan]

I don't understand how they can make the connection between the "rising costs of regulation" and "climate change". It's the government weanies that make and react to that idiotic connection, not Exxon.

 

[limblips]

Environmentally and regulation wise things must have really gone to poop in the last 1.5 years!

https://www.nytimes.com/interactive/2017/03/06/business/dealbook/state-teachers-pensions.html

I'll save you some time. The NYS Teachers Pension Fund is one of only 6 nationwide to receive a grade of "B" reported in March 2017, no state received an "A". I wonder if the alleged pension issues were impacted by the mass exodus of NYS citizens, the anti-business regulations from cuomo and company or any of the other exceedingly liberal policies funded by the liberal socialists in charge.