Exxon Mobil is facing a class action lawsuit alleging that the Company made materially false and/or misleading statements and/or failed to disclose that: (i) Exxon forced its employees to use unrealistic assumptions regarding the timelines for well drilling in the Permian Basin; (ii) the foregoing assumptions served to artificially inflate the value of the Company’s well operations in the Permian Basin; (iii) the foregoing conduct, when revealed, subjected Exxon to a heightened risk of regulatory investigation and oversight; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you incurred a loss on XOM stocks purchased between February 28, 2018 and January 14, 2021, this lawsuit is on your behalf. The lawsuit was filed in the the United States District Court for the Northern District of Texas, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until March 29, 2021 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.
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