INVESTOR ALERT: Law Offices of Howard G. Smith Commences Investigation on Behalf of Exxon Mobile Corporation Investors
November 23 2016 - 12:57PM
Business Wire
Law Offices of Howard G. Smith announces an investigation
on behalf of investors of Exxon Mobile Corporation (“Exxon” or the
“Company”) (NASDAQ: XOM) concerning the Company and its officers’
possible violations of federal securities laws.
On October 28, 2016, Exxon announced that the Company could
potentially have to write down almost 20% of its oil and gas assets
including 3.6 billion barrels of oil and sand reserves as well as 1
billion barrels of additional North American reserves. The Company
also disclosed certain environmental risks and liabilities caused
by global warming and climate change; and that Exxon had employed
an inaccurate “price of carbon” – the cost of regulations such as a
carbon tax or a cap-and-trade system to push down emissions – in
evaluating the value of certain of its future oil and gas prospects
in order to keep the value of its reserves materially
overstated
On this news, Exxon's share price fell nearly 3%, to close
at $84.78 on October 28, 2016.
If you purchased Exxon securities, have information or would
like to learn more about these claims, or have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Howard G. Smith, Esquire,
of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847,
toll-free at (888) 638-4847, or by email
to howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20161123005664/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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