Exxon Dealt a Blow as Texas Judge Sends Climate Suit to NY

30 Mar 2017   Climate

Exxon Mobil Corp.’s attempt to derail a multistate fraud probe into whether the company fully disclosed to investors the financial risks of climate change was dealt a major blow after a Texas judge moved the case from its home turf to a federal court in Manhattan. Texas isn’t the right venue for Exxon’s lawsuit against New York Attorney General Eric Schneiderman and his Massachusetts counterpart, Maura Healey, because the claims revolve around events in Manhattan, a judge in Dallas ruled Wednesday. Exxon argues that the joint investigation into possible consumer and securities fraud was started in “bad faith.” The Exxon case involves “important issues,” U.S. District Judge Ed Kinkeade said in his ruling. But it belongs in New York because the alleged collusion at the center of the lawsuit took place at a “United for Clean Power” press conference on March 29, 2016, in Manhattan, he said. […]

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