Bloomberg Law
June 14, 2016, 8:54 PM UTC

Could $200 Billion Tobacco-Type Settlement Be Coming Over ‘Climate Change?’

Gabe Friedman
Freelancer

At the Big Law Business Summit last week, New York State Attorney General Eric Schneiderman ripped into Exxon Mobil for its stance on climate change.

Schneiderman accused Exxon of glossing over the risks that climate change poses to its core businesses in its public securities statements, and then couching its disclosure as first amendment protected.

“The first amendment doesn’t protect fraud – it doesn’t protect fraudulent speech,” he said.

This weekend, the Houston Chronicle published its investigation of the brewing legal threats that energy companies face as a result of their disclosures on climate change, comparing it to the situation tobacco companies faced in ...

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