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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