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They absolutely can seek damages for Exxon hiding an enormous long-term liability. Which still exists and still hasn't been paid for.
by Robotbeat 7y ago
They absolutely can seek damages for Exxon hiding an enormous long-term liability. Which still exists and still hasn't been paid for.
- SpicyLemonZest 7y agoCertainly, hiding liabilities to inflate your company’s value is bad. But is that really what anyone cares about here? If Exxon can show that their financial models were always properly adjusted for the future risks of climate change, how many people do you think will conclude that they did nothing wrong?
- Robotbeat 7y agoActually, yes. If Exxon and all other companies operated as if those future liabilities mattered and didn't hide the full price from investors and engage lobbyists to keep that full price from being levied on them, then we wouldn't be in this pickle.