S&P 500   5,022.21
DOW   37,753.31
QQQ   425.84
ASML Fires Warning Shot For Tech Investors
Checking in with 5 Bitcoin Stocks Ahead of Bitcoin's Halving
Closing prices for crude oil, gold and other commodities
Lululemon’s P/E Is Back to 2017 Levels: Should You Buy the Dip?
Stock market today: Wall Street dips to send S&P 500 to its longest losing streak since January
Abbott Laboratories Outlook is Healthy: Buy the Dip
Prologis Stock Leading U.S. Logistics Boom
S&P 500   5,022.21
DOW   37,753.31
QQQ   425.84
ASML Fires Warning Shot For Tech Investors
Checking in with 5 Bitcoin Stocks Ahead of Bitcoin's Halving
Closing prices for crude oil, gold and other commodities
Lululemon’s P/E Is Back to 2017 Levels: Should You Buy the Dip?
Stock market today: Wall Street dips to send S&P 500 to its longest losing streak since January
Abbott Laboratories Outlook is Healthy: Buy the Dip
Prologis Stock Leading U.S. Logistics Boom
S&P 500   5,022.21
DOW   37,753.31
QQQ   425.84
ASML Fires Warning Shot For Tech Investors
Checking in with 5 Bitcoin Stocks Ahead of Bitcoin's Halving
Closing prices for crude oil, gold and other commodities
Lululemon’s P/E Is Back to 2017 Levels: Should You Buy the Dip?
Stock market today: Wall Street dips to send S&P 500 to its longest losing streak since January
Abbott Laboratories Outlook is Healthy: Buy the Dip
Prologis Stock Leading U.S. Logistics Boom
S&P 500   5,022.21
DOW   37,753.31
QQQ   425.84
ASML Fires Warning Shot For Tech Investors
Checking in with 5 Bitcoin Stocks Ahead of Bitcoin's Halving
Closing prices for crude oil, gold and other commodities
Lululemon’s P/E Is Back to 2017 Levels: Should You Buy the Dip?
Stock market today: Wall Street dips to send S&P 500 to its longest losing streak since January
Abbott Laboratories Outlook is Healthy: Buy the Dip
Prologis Stock Leading U.S. Logistics Boom

ExxonMobil loses bid to nix climate change lawsuit


The logo for ExxonMobil appears above a trading post on the floor of the New York Stock Exchange, Oct. 8, 2019. Massachusetts' highest court on Tuesday, May 24, 2022, rejected a bid by ExxonMobil to dismiss a lawsuit brought by the state that accuses the oil giant of misleading the public about the role its products play in causing climate change. (AP Photo/Richard Drew, File)

BOSTON (AP) — Massachusetts’ highest court on Tuesday rejected a bid by ExxonMobil to dismiss a lawsuit brought by the state that accuses the oil giant of misleading the public about the role its fossil fuels play in causing climate change.

The lawsuit filed in 2019 by Massachusetts Attorney General Maura Healey alleges Exxon launched an effort, “reminiscent of the tobacco industry’s long denial campaign about the dangerous effects of cigarettes,” to deceive consumers and investors about climate change.

Massachusetts’ Supreme Judicial Court upheld a lower court ruling that rejected the company’s argument that a state law shielded it from the lawsuit.

A phone message seeking comment was left with Exxon, which has denied spreading disinformation about the contribution of fossil fuels to global warming.

In a congressional hearing last year, the company's CEO, Darren Woods, told lawmakers that its public statements on climate “are and have always been truthful” and that Exxon has “long acknowledged the reality and risks of climate change” and "devoted significant resources to addressing those risks.″

The Massachusetts lawsuit says Exxon engaged in a “sophisticated, multi-million dollar campaign” to sow doubt in climate science and downplay the link between fossil fuels and climate change. The lawsuit says Exxon also undertook “greenwashing campaigns” in an effort to portray itself as environmentally responsible.

“Rather than honestly disclose and mitigate climate change risks, ExxonMobil’s misrepresentations about and failures to disclose those risks have delayed the needed transition to clean energy around the world and make these existential climate-driven threats to the global economy more likely to occur,” the complaint says.

Healey called the court's ruling a “resounding victory” in the state's efforts to “stop Exxon from lying to investors and consumers.”


“Exxon’s repeated attempts to stonewall our lawsuit have been baseless, and this effort was no different. We look forward to proceeding with our case and having our day in court to show how Exxon is breaking the law and to put an end to the deception once and for all,” she said in a statement.

Lawyers for Exxon argued in court documents that the company’s statements about climate change and energy policy were “protected petitioning activity” even if they were made to defend the company’s reputation.

But the top court said the law Exxon claimed should protect the company in this case doesn't apply to government enforcement actions brought by the attorney general.

It's the latest twist in yearslong battle between Massachusetts and Exxon. The company previously unsuccessfully sued Massachusetts in an effort to block Healey's investigation into Exxon and climate change.

Should you invest $1,000 in Exxon Mobil right now?

Before you consider Exxon Mobil, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Exxon Mobil wasn't on the list.

While Exxon Mobil currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks to Own Before the 2024 Election Cover

Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.

Get This Free Report

Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Exxon Mobil (XOM)
4.6798 of 5 stars
$118.63-0.1%3.20%13.34Moderate Buy$131.44
Compare These Stocks  Add These Stocks to My Watchlist 


Featured Articles and Offers

Search Headlines: