Exxon must disclose accounting details in New York climate probe, court says By Seeking Alpha
- New York’s top court yesterday rejected Exxon Mobil ‘s ( +0.2%) claim of “accountant-client” privilege in an attempt to avoid handing over documents in response to a subpoena by state Attorney General Schneiderman, who is investigating whether investors were misled about the possible impact of climate change on the company’s business.
- The ruling affirms a 2016 lower court decision that XOM must comply with the AG’s subpoena.
- A separate XOM lawsuit against Schneiderman and the Massachusetts AG, who also is investigating the company, seeks to derail the two probes; the case was moved by a Texas judge to New York federal court.
- Now read: Exxon Mobil’s Premium Is Shrinking
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