Exxon Must Disclose Accounting Details in New York Climate Probe
- Lower court denied claim of ‘accountant-client’ privilege
- N.Y. attorney general seeks files in a fraud investigation
A gas flare is seen through the window as a Royal Dutch Shell Plc representative drives near Mentone, Texas, U.S., on Thursday, March 2, 2017. Exxon Mobil Corp., Royal Dutch Shell and Chevron Corp., are jumping into American shale with gusto, planning to spend a combined $10 billion this year, up from next to nothing only a few years ago.
Photographer: Matthew Busch/BloombergExxon Mobil Corp.’s attempt to use "accountant-client privilege" to avoid handing over audit documents in a politically charged climate-change probe was dealt a final blow by New York’s top court.
The finding on Tuesday affirms a 2016 ruling that Exxon must comply with a subpoena by New York Attorney General Eric Schneiderman, who is investigating whether investors were misled about the possible impact of climate change on the energy company’s business.