05:17:25 EDT Tue 22 Oct 2024
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Exxon Mobil CDR (CAD Hedged)
Symbol XOM
Shares Issued 1,700,000
Close 2024-09-23 C$ 22.05
Market Cap C$ 37,485,000
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Globe/wire say California, green groups sue Exxon Mobil

2024-09-24 07:25 ET - In the News

The Globe and Mail reports in its Tuesday edition that California and several environmental groups sued Exxon Mobil on Monday, accusing it of a decades-long campaign that contributed to global plastic-waste pollution. A Reuters dispatch to The Globe reports that California Attorney-General Rob Bonta said the state sued Exxon after concluding a nearly two-year investigation that he said showed Exxon was deliberately misleading the public about the limitations of recycling. Mr. Bonta said, "Today's lawsuit shows the fullest picture to date of Exxon Mobil's decades-long deception, and we are asking the court to hold Exxon Mobil fully accountable for its role in actively creating and exacerbating the plastics pollution crisis through its campaign of deception." The investigation reflects California's previous probes into the oil industry's alleged efforts to mislead the public about climate change, which the state is also suing over. A coalition of environmental groups, including the Sierra Club, joined California's legal battle by filing a related lawsuit in the same state court in San Francisco, raising similar allegations. Exxon pushed back at the Attorney-General, arguing that solutions such as advanced recycling work.

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