Exxon Mobil Corporation Investors: Last Days to Participate Actively in the Class Action ...
Investors with losses are encouraged to contact the firm before March 29, 2021; clickhereto submit trade information
LOS ANGELES, March 23, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Exxon Mobil Corporation (NYSE: XOM) investors that acquired shares between November 6, 2019 and January 14, 2021. Investors have until March 29, 2021 to seek an active role in this litigation.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Exxon is the subject of a Wall Street Journal article published on January 15, 2021, titled, “Exxon Draws SEC Probe Over Permian Basin Asset Valuation.” According to the article, the SEC is probing the Company following a whistleblower complaint. The complaint alleged that the Company forced employees working on an internal assessment to use unrealistic assumptions about how quickly its wells in the Permian Basin could be drilled to achieve a higher valuation. According to the complaint, at least one employee who complained about using the unrealistic assumptions was then fired. Based on this news, shares of Exxon dropped by more than 4.8% on the same day.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 29, 2021.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar