SOURCE: Kahn Swick & Foti, LLC

Kahn Swick & Foti

November 18, 2016 22:07 ET

EXXON SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Exxon Mobil Corporation - XOM

NEW ORLEANS, LA--(Marketwired - November 18, 2016) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 6, 2017 to file lead plaintiff applications in a securities class action lawsuit against Exxon Mobil Corporation (NYSE: XOM), if they purchased the Company's securities between February 19, 2016 and October 27, 2016, inclusive (the "Class Period"). This action is pending in the United States District Court for the Northern District of Texas.

What You May Do

If you purchased shares of Exxon and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 6, 2017.

About the Lawsuit

Exxon and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

The alleged false and misleading statements and omissions include, but are not limited to, that: (i) Exxon's internal reports recognized the environmental risks caused by global warming and climate change; (ii) because of these risks, Exxon would not be able to extract its claimed existing hydrocarbon reserves and, therefore, a material portion should have been written down; and (iii) Exxon employed an inaccurate "price of carbon" -- the cost of regulations such as a carbon tax or cap-and-trade system -- in evaluating its future oil and gas prospects to materially overstate the value of its reserves.

About Kahn Swick & Foti, LLC

KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.

To learn more about KSF, you may visit www.ksfcounsel.com.

Contact Information

  • Contact:

    Kahn Swick & Foti, LLC
    Lewis Kahn
    Managing Partner
    lewis.kahn@ksfcounsel.com
    1-877-515-1850
    206 Covington St.
    Madisonville, LA 70447