Dec 10, 2019 - Energy & Environment

Exxon prevails over New York in climate change lawsuit

Photo: Spencer Platt/Getty Images

ExxonMobil won a closely watched fraud lawsuit filed by the New York attorney general alleging the oil giant misled investors on its handling of climate-change costs, a New York judge ruled Tuesday morning.

Why it matters: It’s a key victory for both Exxon and the sector writ large amid years of liberal politicians and environmentalists waging various legal battles trying to exact blame for climate change.

  • Yes, but: Don’t expect this to deter other lawsuits against Big Oil companies on the grounds of climate change, several which are still proceeding under different arguments and lawsuits.

The big picture: The Massachusetts AG recently filed a similar lawsuit and at least Democratic presidential candidates, Elizabeth Warren and Bernie Sanders, have said they would pursue legal battles against big oil companies related to climate change.

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