Investigation announced for Long-Term Investors in shares of Exxon Mobil Corporation (NYSE: XOM)
An investigation on behalf of current long term investors in Exxon Mobil Corporation (NYSE: XOM) shares.
Investors who are current long term investors in Exxon Mobil Corporation (NYSE: XOM) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NYSE: XOM stocks follows a lawsuit filed against Exxon Mobil Corporation over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: XOM stocks, concerns whether certain Exxon Mobil Corporation directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Northern District of Texas the plaintiff alleges that Exxon's public statements were materially false and misleading when made as they failed to disclose that Exxon's own internally generated reports concerning climate change recognized the environmental risks caused by global warming and climate change, that, given the risks associated with global warming and climate change, the Company 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 that 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.
The plaintiff claims that as a result of defendants' positive statements between February 19, 2016 and October 27, 2016, Exxon common stock traded at artificially inflated prices, reaching high of more than $95 per share between February 19, 2016 and October 27, 2016, and the rating agencies maintained Exxon's AAA debt rating – the highest – permitting Exxon to sell $12 billion of corporate debt at extraordinarily favorable rates between February 19, 2016 and October 27, 2016.
Exxon Mobil Corporation reported that its annual Total Revenue declined from over $394.1 billion in 2014 to over $259.48 billion in 2015 and that its Net Income declined from $32.52 billion in 2014 to $16.15 billion in 2015.
The plaintiff claims that through a series of partial disclosures issued by different news sources between mid-August 2016 and late September 2016, the market learned that federal regulators were actively scrutinizing Exxon Mobil Corporation 's reserve accounting related to climate change and global warming and its refusal to write down any of its oil and gas reserves in the face of declining global oil prices.
On October 28, 2016, Exxon Mobil Corporation announced its financial results for the quarter ended September 30, 2016.
Exxon Mobil Corporation disclosed that it might be forced to write down nearly 20% of its oil and gas assets. Specifically, Exxon Mobil Corporation acknowledged that it might have to write down 3.6 billion barrels of oil sand reserves and one billion barrels of other North American reserves that Exxon Mobil Corporation now conceded were not profitable to produce under current prices.
Those who purchased shares of Exxon Mobil Corporation (NYSE: XOM) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North
San Diego, CA 92108
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Investigation announced for Long-Term Investors in shares of Exxon Mobil Corporation (NYSE: XOM) here
News-ID: 1825146 • Views: 579
More Releases from Shareholders Foundation
ProShares Ultra Bloomberg Crude Oil (NYSEArca: UCO) Investor Alert: Deadline in …
A deadline is coming up on September 28, 2020 in the lawsuit filed for certain investors of ProShares Ultra Bloomberg Crude Oil (NYSEArca: UCO) over alleged securities laws violations. Investors who purchased shares of ProShares Ultra Bloomberg Crude Oil (NYSEArca: UCO) have certain options and there are strict and short deadlines running. Deadline: September 28, 2020. NYSEArca: UCO stockholders should contact the Shareholders Foundation at email@example.com or call +1(858) 779 -
Investigation announced for Long-Term Investors in shares of Forescout Technolog …
An investigation was announced for long-term investors in shares of Forescout Technologies, Inc. (NASDAQ: FSCT) concerning potential breaches of fiduciary duties by certain directors and officers of Forescout Technologies, Inc.. Investors who are current long term investors in Forescout Technologies, Inc. (NASDAQ: FSCT) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554. The investigation by a law firm for investors in NASDAQ:
Investigation announced for Long-Term Investors in shares of Hebron Technology C …
An investigation was announced concerning potential breaches of fiduciary duties by certain directors of Hebron Technology Co., Ltd.. Investors who are current long term investors in Hebron Technology Co., Ltd. (NASDAQ: HEBT) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554. The investigation by a law firm for current long term investors in NASDAQ: HEBT stocks follows a lawsuit filed against Hebron
Investigation announced for Investors in shares of CrossFirst Bankshares, Inc. ( …
An investigation was announced concerning potential securities laws violations by CrossFirst Bankshares, Inc. in connection with certain financial statements. Investors who purchased shares of CrossFirst Bankshares, Inc. (NASDAQ: CFB), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554. The investigation by a law firm focuses on whether certain statements by CrossFirst Bankshares, Inc. regarding its business, its prospects and its operations were materially false
More Releases for Exxon
Omega 3 Market 2018|Exxon Mobil ,Cargill
According to a new report published by Polaris Market Research the Omega 3 market is anticipated to reach over USD 4,262.5 million by 2026. In 2017, the functional food and supplements segment dominated the global market, in terms of revenue. North America was the leading contributor to the global market revenue in 2017. The well-known companies profiled in the report include Omega Protein Corporation, Croda International PLC, Arista Industries Inc., Cargill,
Aromatic Solvents Market Dominant share to 2025 - Exxon Mobil Corporation
Global Aromatic Solvents Market: Snapshot Aromatic solvents are organic chemicals that are mostly produced by distillation of crude petroleum stock and other chemical conversion processes in the petroleum refining industry. These solvents are also procured from light hydrocarbons such as butane, ethane, and propane. Besides this, catalytic reforming is a commonly used process for the manufacture of aromatic solvents in the oil and gas industry. Toluene, xylene, and toluene TDI are some
Global Sulphur Recovery Market 2017: Chiyoda, Fluor, Exxon, Prosernat, Bechtel
The report entitled Global Sulphur Recovery Market 2017 delivers the comprehensive and in-depth research analysis of the key regional industry standing of the Sulphur Recovery market on a global level. This report especially focuses on the core regions such as North & South America, Europe, Africa, South & Middle East Asia and Australia and also the key countries like (USA, Canada, UK, France, Germany, Russia, India, China, South Korea and
Wax Market 2017 - Exxon Mobil Corporation, Sasol, Lukoil, Shell, Nippon
Apex Research, recently published a detailed market research study focused on the "Wax Market" across the global, regional and country level. The report provides 360° analysis of "Wax Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global Wax industry, and estimates the future trend of Wax market on the basis of
Paraffin Wax Market 2017- CNPC, Exxon Mobile, Sinopec, Shell, Sasol
Paraffin wax is a white or colorless soft solid derivable from petroleum, coal or oil shale that consists of a mixture of hydrocarbon molecules containing between twenty and forty carbon atoms. Request for sample(No Cost for sample) @ https://goo.gl/kdEt7Y Major players in the global Paraffin Wax market :- CNPC Exxon Mobile Sinopec Shell Sasol LUKOIL PDVSA Petrobras ENI Cepsa MOL Nippon Seiro IGI Calumet Samir HollyFrontier Hansen & Rosenthal This report provides detailed analysis of worldwide markets for Paraffin Wax from 2012-2017 and provides extensive market forecasts 2017-2022 by
GLOBAL HELIUM MARKET- GAZPROM, EXXON, PRAXAIR, PGNIG, LINDE
Global Market Study Evaluate on Helium Industry by Type, Manufacturers, Application, Type, and Regions, Forecast up to 2022 The scope of the global Helium market report is: This report offers a comprehensive evaluation of the Helium market. It does so by in-depth qualitative insights, historical Helium market data, and verifiable projections about global Helium market size. The projections featured in the Helium market report have been derived using proven research assumptions and