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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.
Read the ruling: