
Exxon prevails in climate-change lawsuit - Bostonian
https://www.latimes.com/business/story/2019-12-10/exxon-wins-climate-change-lawsuit
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Bostonian
These lawsuits are about punishing Exxon for selling a legal product, under
the pretext of protecting investors. Quoting the article:

“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. James “produced no testimony either from any
investor who claimed to have been misled by any disclosure,” while the company
disclosed its use of both the proxy cost and the greenhouse gas metrics no
later than 2014, the judge said.

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larnmar
I can’t quite see how suing a company on behalf of its own investors is
supposed to work, but I assume that if I’m an XOM shareholder it would involve
wealth being transferred from me to me via lawyers who get to take a
significant cut for themselves.

