Exxon must face Massachusetts lawsuit alleging climate change deceit

[DearWallstreet.com] DWS Daily on Jun 23, 2021 EMAIL}/redirect [Exxon must face Massachusetts lawsuit alleging climate change deceit Jonathan Stempel]( Image]( By Jonathan Stempel (Reuters) - A Massachusetts state judge has rejected Exxon Mobil Corp's bid to dismiss a lawsuit by state Attorney General Maura Healey accusing the oil company of misleading consumers and investors about its role in climate change. In a decision released on Wednesday, Superior Court Justice Karen Green in Boston said Exxon failed to show that the October 2019 lawsuit was meant to silence its views on climate change, including those Healey and her constituents might dispute. "Climate change indisputably is a topic that has attracted government attention," Green wrote. "It is apparent from the context in which they were made that many Exxon statements referenced in the complaint are not protected." Exxon said it was considering its next legal steps. "This case lacks merit, and we look forward to defending the company," spokesperson Casey Norton said in an email. The decision came one month after Engine No. 1, an activist hedge fund focused on climate change, won three seats on Exxon's 12-member board, an unexpected blow to an energy industry facing growing investor complaints about global warming. Healey had accused Irving, Texas-based Exxon of downplaying the impact its fossil fuel products had on climate change and the risks climate change posed to its business, in an effort to boost profit and its stock price. The lawsuit seeks civil penalties and other relief. Exxon claimed it wanted to inform the public about the environmental benefits of its products and about its climate policies. It had sought a dismissal under Massachusetts' law against strategic lawsuits against public participation, or anti-SLAPP law. Such lawsuits can intimidate speakers into silence. "Today's rulings represent a significant step forward for my office's work to hold Exxon accountable," Healey, a Democrat, said in a statement. In December 2019, a New York state judge dismissed a lawsuit by that state's Attorney General Letitia James accusing Exxon of defrauding investors by hiding the true cost of climate change regulation. (Reporting by Jonathan Stempel in New York; Additional reporting by Nate Raymond in Boston; editing by Richard Pullin) [Yellen says inflation should be lower than current levels by year end]( (Reuters) - U.S. Treasury Secretary Janet Yellen said on Wednesday that inflation should retreat...([Continue Reading]( EMAIL}/redirect [Canada lawmakers pass budget bill with pandemic supports ahead of summer recess]( By Julie Gordon OTTAWA (Reuters) - Canadian lawmakers on Wednesday passed Prime Mi...([Continue Reading]( [Fed's Rosengren says central bank needs to keep eye on financial stability risks]( (Reuters) - Federal Reserve officials need to keep a close watch on financial stability risks, a...([Continue Reading]( EMAIL}/redirect GENERAL NOTICE AND DISCLAIMER - PLEASE READ CAREFULLY THE FOLLOWING NOTICE AND DISCLAIMER MUST BE READ AND UNDERSTOOD AND YOU MUST AGREE TO THE TERMS CONTAINED THEREIN BEFORE USING THIS WEBSITE OR SUBSCRIBING TO OUR NEWSLETTER.This is a PAID ADVERTISEMENT provided to customers/subscribers of dearwallstreet. 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