INVESTOR ALERT: Brower Piven Encourages Shareholders Who Have Losses In Excess Of $100,000 From Investment In Exxon Mobil Cor...
November 18 2016 - 11:45PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has
been commenced in the United States District Court for the Northern
District of Texas on behalf of purchasers of Exxon Mobil
Corporation (NYSE: XOM) (“Exxon Mobil” or the “Company”) common
stock during the period between February 19, 2016 and October 27,
2016, inclusive (the “Class Period”). Investors who wish to become
proactively involved in the litigation have until January 6, 2017
to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from
investment in Exxon Mobil common stock during the Class Period.
Members of the Class will be represented by the lead plaintiff and
counsel chosen by the lead plaintiff. No class has yet been
certified in the above action.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants’
failure to disclose during the Class Period that Exxon Mobil’s
internal reports about climate change recognized the environmental
risks caused by global warming and climate change, Exxon Mobil knew
the risks associated with global warming and climate change, Exxon
Mobil would not be able to remove the existing hydrocarbon reserves
the Company claimed to have, Exxon Mobil’s reserves were stranded
and should have been written down, and Exxon Mobil had employed an
inaccurate “price of carbon” in evaluating the value of certain of
its future oil and gas prospects in order to keep the value of its
reserves materially overstated.
According to the complaint, following news reports from
mid-August 2016 to late September 2016 announcing that federal
regulators were scrutinizing Exxon Mobil’s reserve accounting
related to climate change and global warming and its refusal to
take a write down, and an October 28, 2016 press release announcing
that the Company might be forced to write down nearly 20% of its
oil and gas assets, the value of Exxon Mobil shares declined
significantly.
If you have suffered a loss in excess of $100,000 from
investment in Exxon Mobil common stock purchased on or after
February 19, 2016 and held through the revelation of negative
information during and/or at the end of the Class Period and would
like to learn more about this lawsuit and your ability to
participate as a lead plaintiff, without cost or obligation to you,
please visit our website at
http://www.browerpiven.com/currentsecuritiescases.html. You may
also request more information by contacting Brower Piven either by
email at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Brower Piven also encourages anyone with information regarding the
Company’s conduct during the period in question to contact the
firm, including whistleblowers, former employees, shareholders and
others.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If you
choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161118005625/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
Exxon Mobil (NYSE:XOM)
Historical Stock Chart
From Aug 2024 to Sep 2024
Exxon Mobil (NYSE:XOM)
Historical Stock Chart
From Sep 2023 to Sep 2024