BENSALEM, Pa.--(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 firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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