California seeks company profits in Big Oil climate lawsuit

- California's attorney general on Monday sought to force the world's biggest oil companies to give up profits the state alleges they made while deceiving consumers about their role in contributing to climate change.

The legal action comes months after a new state law went into effect that allows the attorney general to seek profits obtained from companies while they violated laws against unfair competition and false advertising.The suit, filed in state court in San Francisco, alleges the energy giants have caused tens of billions of dollars in damages and accuses them of deceiving the public.

In recent weeks, major oil and gas companies have fought back against activist shareholders urging more corporate climate action while some U.S. lawmakers have stepped up probes into whether the industry is behaving deceptively.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.

Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.would like to remind you that the data contained in this website is not necessarily real-time nor accurate.

It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oil industry asks Supreme Court to block climate change lawsuits from California, other statesOil and gas companies are asking the Supreme Court to block dozens of high-powered lawsuits seeking to hold the industry liable for billions of dollars in costs related to climate change.
Source: adndotcom - 🏆 293. / 63 Read more »

Oil industry asks Supreme Court to block climate change lawsuits from California, other statesThe Supreme Court is being asked to block climate change lawsuits filed against oil companies by California and other blue states.
Source: latimes - 🏆 11. / 82 Read more »