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Former Exxon Worker Says Climate Risk Denial Hurt Savings – Law360

Law360, New York (November 23, 2016, 4:25 PM EST) — A former employee of Exxon Mobil Corp. lodged a class action lawsuit in Houston federal court Wednesday that says current and former workers’ retirement savings have taken a hit as a result of the $360 billion energy giant’s fraudulent denial that global warming would affect the value of its oil and gas reserves.

Given the business risks associated with climate change, Exxon should have been more cautious in claiming how much its hydrocarbon reserves were worth, says the suit lodged by named plaintiff Bobby D. Fentress. …

Source: Former Exxon Worker Says Climate Risk Denial Hurt Savings – Law360

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