In Targeting Exxon on Climate, New York Puts All Corporations on Notice

In a move that is potentially transformative, the New York attorney general is investigating Exxon for financial fraud.

Exxon Mobil chairman and CEO Rex Tillerson at a discussion on energy innovations, organized by the Economic Club of Washington, in Washington, D.C., on March 12, 2015. Nicholas Kamm/AFP/Getty Images

In a move that is potentially transformative, the New York attorney general is investigating Exxon for financial fraud.

The company made public statements questioning the science of climate change in years past, even as its own in-house scientists informed company executives that precisely the opposite was the case. Put in simpler terms, the New York investigation is exploring whether the company lied to investors and consumers in order to place its own profits ahead of the public good.

But while the case focuses specifically on Exxon’s activities, its impact will be felt by many other corporations accused of misleading the public and investors.

While the case focuses specifically on Exxon's activities, its impact will be felt by many other corporations accused of misleading the public and investors.