Exxon Mobil Corporation

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Case Summary
Company Name: Exxon Mobil Corporation
Stock Symbol : NYSE: XOM
Class Period Start: 02/19/2016
Class Period End: 10/27/2016
Lead Plaintiff motion: 01/06/2017
Date Filed: 11/07/2016
Type of Case: Securities Class Action
Court: U.S. District Court for the Northern District of Texas
Summary:

Thieler Law Corp advises investors with losses exceeding $100,000 of the January 6, 2017 lead plaintiff deadline in a class action lawsuit filed against Exxon Mobil Corporation (NYSE: XOM) (“Exxon” or “the Company”). The suit is pending in the U.S. District Court for the Northern District of Texas and investors, who purchased Exxon Mobil Corporation securities between February 19, 2016 and October 27, 2016, have until January 6, 2017 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Exxon Mobil Corporation securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Exxon’s internal reports recognized the environmental risks caused by global warming and climate change; because of these risks, Exxon would not be able to extract its claimed existing hydrocarbon reserves and, therefore, a material portion should have been written down; and Exxon employed an inaccurate “price of carbon” – the cost of regulations such as a carbon tax or cap-and-trade system – in evaluating its future oil and gas prospects to materially overstate the value of its reserves.

On October 28, 2016, the Company revealed that Exxon may write down almost 20% of its oil and gas assets. These assets include 3.6 billion barrels of oil and sand reserves and 1 billion barrels of additional North American reserves the Company accounted for incorrectly in light of the sharp decline in oil prices.

Following this news, NYSE: XOM fell nearly 3%, to close at $84.78 on October 28, 2016.

If you were negatively impacted by your investment in Exxon Mobil Corporation securities between February 19, 2016 and October 27, 2016 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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