New York Court Dismisses Climate Lawsuit Against ExxonMobil
December 19, 2019
New York state Supreme Court Justice Barry Ostrager dismissed a lawsuit brought by state Attorney General (AG) Letitia James against ExxonMobil.
New York state Supreme Court Justice Barry Ostrager dismissed a lawsuit brought by state Attorney General (AG) Letitia James against ExxonMobil.
The suit accused ExxonMobil of lying to investors about the company’s business prospects in light of the possible costs of government regulations to fight climate change.
“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 his decision. “The office of the Attorney General produced no testimony from any investor who claimed to have been misled by any disclosure.”
Ostrager dismissed the case with prejudice, meaning it cannot be brought again based on these facts in the state of New York. The case was the first of several climate-related lawsuits against major oil companies to go to trial.
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