SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

November 18, 2016 11:31 ET

INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Exxon Mobil Corporation of Commencement of a Class Action Lawsuit and a Lead Plaintiff Deadline of January 6, 2017 -- XOM

NEW YORK, NY--(Marketwired - November 18, 2016) - The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of Exxon Mobil Corporation ("Exxon Mobil" or the "Company") (NYSE: XOM) between February 19, 2016 and October 27, 2016. You are hereby notified that a securities class action has commenced in the USDC for the Northern District of Texas. To get more information go to:

http://www.zlk.com/pslra/exxon-mobil-corporation

or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The complaint alleges that Exxon's public statements were materially false and misleading by virtue of failure to disclose that: (a) Exxon's own internally generated reports concerning climate change recognize the environmental risks caused by global warming and climate change; (b) given the risks associated with global warming and climate change, the Company would not be able to extract the existing hydrocarbon reserves Exxon claimed to have and, therefore, a material portion of Exxon's reserves were stranded and should have been written down; (c) Exxon had employed an inaccurate "price of carbon" -- the cost of regulations such as a carbon tax or a cap-and-trade system to push down emissions -- in evaluating the value of certain of its future oil and gas prospects in order to keep the value of its reserves materially overstated.

If you suffered a loss in Exxon Mobil you have until January 6, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm's attorneys have extensive experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph E. Levi, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com