Will the "Tobacco Strategy" Work Against Big Oil?
According to InsideClimate News, the office of New York State Attorney General Eric Schneiderman had been investigating ExxonMobil for a year before it issued a recent subpoena for “documents on what Exxon knew about climate change and what it told shareholders and the public.”
The subpoena compelled ExxonMobil to hand over scientific research and communications about climate change dating back to 1977. (Exxon and Mobil merged to become a single corporation in 1999.)
The investigation is based on New York State’s consumer-protection and general-business laws and, crucially, the state’s Martin Act, InsideClimate News reported. That statute prohibits fraud or misrepresentation in the sale of securities and commodities, and gives the Attorney General extraordinary power to fight financial fraud.
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