Rosen Law Firm Reminds Exxon Mobil Corporation Investors of Deadline in Class Action - XOM
November 15 2016 - 1:16PM
Business Wire
Rosen Law Firm, a global investor rights law firm, reminds
purchasers of Exxon Mobil Corporation common stock (NYSE:XOM) from
February 19, 2016 through October 27, 2016, both dates inclusive
(the “Class Period”) of the January 6, 2017 lead plaintiff deadline
in the class action. The lawsuit seeks to recover damages for Exxon
investors under the federal securities laws.
To join the Exxon class action, go to
http://www.rosenlegal.com/cases-988.html or call Phillip Kim, Esq.
or Kevin Chan, Esq. toll-free at 866-767-3653 or email
pkim@rosenlegal.com or kchan@rosenlegal.com for information on the
class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A
CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU
RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO
NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
The complaint alleges that throughout the Class Period, Exxon
repeatedly highlighted the strength of its business model and its
transparency and reporting integrity, particularly with regard to
its oil and gas reserves and the value of those reserves. Exxon’s
public statements were materially false and misleading when made as
they failed to disclose that: (1) Exxon’s own internally generated
reports concerning climate change recognized the environmental
risks caused by global warming and climate change; (2) given the
risks associated with global warming and climate change, Exxon
would not be able to extract the existing hydrocarbon reserves
Exxon claimed to have and, therefore, a material portion of Exxon’s
reserves were stranded and should have been written down; and (3)
Exxon had employed an inaccurate “price of carbon” – the cost of
regulations such as a carbon tax or a cap-and-trade system to push
down emissions – in evaluating the value of certain of its future
oil and gas prospects in order to keep the value of its reserves
materially overstated. When the true details entered the market,
the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to
serve as lead plaintiff, you must move the Court no later than
January 6, 2017. A lead plaintiff is a representative party acting
on behalf of other class members in directing the litigation. If
you wish to join the litigation, go to
http://www.rosenlegal.com/cases-988.html or to discuss your rights
or interests regarding this class action, please contact Phillip
Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at
866-767-3653 or via e-mail at pkim@rosenlegal.com or
kchan@rosenlegal.com. Attorney Advertising. Prior results do not
guarantee a similar outcome.
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Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation.
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version on businesswire.com: http://www.businesswire.com/news/home/20161115006509/en/
The Rosen Law Firm, P.A.Laurence Rosen, Esq.Phillip Kim,
Esq.Kevin Chan, Esq.275 Madison Avenue, 34th FloorNew York, NY
10016Tel: 212-686-1060Toll Free: 866-767-3653Fax: (212)
202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com
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