A New York judge sided with Exxon Mobil Tuesday in a closely-watched environmental case, concluding the oil giant did not mislead investors in its climate change disclosures.
The ruling by Barry Ostrager, a judge in the New York state court, rejected arguments by the state’s attorney general that the company duped investors by downplaying the costs of mitigating climate change.
“The court finds that the Office of the Attorney General failed to prove by a preponderance of the evidence that ExxonMobil made any material misrepresentation” of significance, Ostrager wrote.
The decision came after a trial that included testimony from former Exxon Mobil CEO Rex Tillerson.
