NY attorney general wields powerful weapon in Exxon climate case

[applegrove]

NY attorney general wields powerful weapon in Exxon climate case

By Mica Rosenberg at Reuters

http://www.reuters.com/article/2015/11/07/us-exxon-mobil-climatechange-case-idUSKCN0SW01M20151107#eYc3QKh5QovQTVyJ.97

"SNIP...............




A near century-old statute that gives New York state prosecutors unusually broad authority to prosecute securities fraud could prove a powerful weapon as Attorney General Eric Schneiderman probes Exxon Mobil Corp (XOM.N) over whether the oil firm mislead the public and shareholders about the perils of climate change.

The 1921 Martin Act, a wide-reaching state law, was dusted off in the early 2000s by former New York Attorney General Eliot Spitzer who used it to aggressively go after Wall Street firms.

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Now, Schneiderman is wielding the statute in his probe of Exxon, the world's largest publicly traded oil company, according to a source familiar with the matter. The source said other state laws could be used as well.

Schneiderman subpoenaed Exxon on Wednesday, demanding extensive financial records, emails and other documents to probe the company's knowledge and disclosures about climate change going back to the 1970s.

Read more at Reutershttp://www.reuters.com/article/2015/11/07/us-exxon-mobil-climatechange-case-idUSKCN0SW01M20151107#RADRHRUGMF8WJSjA.99


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[Mnemosyne]

1. A crime against humanity and the planet. Filthy POS's. nt

[Samantha]

2. I have boycotted Exxon for years

and I hope others start to do the same.

Sam

[Mnemosyne]

4. They are all the same, destroyers of the planet. nt

[Historic NY]

3. For the record Ny has taken them on in the past and won....

The Hudson Riverkeeper and Exxon discharge pollution problem

http://www.people.com/people/archive/article/0,,20118115,00.html