Exxon was found not guilty in New York climate change case, ending the 4-year saga for the oil company.
did not mislead shareholders over the true cost of climate change, New York Supreme Court Justice Barry Ostrager ruled on Tuesday.
The $1.6 billion suit brought by New York Attorney General Letitia James alleged that Exxon deceived investors about the true cost of climate change. The trial, which began in October and was the first climate fraud suit to go to trial, was the result of a four-year investigation. The case centered on how Exxon, the United States' largest oil company, accounted for the future potential cost of climate change. New York's case accused the company of misrepresenting these costs, with AG James arguing that the company used one set of numbers publicly, while operating with a less conservative forecast internally.
"Lawsuits that waste millions of dollars of taxpayer money do nothing to advance meaningful actions that reduce the risks of climate change. ExxonMobil will continue to invest in researching breakthrough technologies to reduce emissions while meeting society's growing demand for energy," Norton added.Climate activists protest on the first day of the Exxon Mobil trial outside the New York State Supreme Court building on October 22, 2019 in New York City.
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