Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion In a Securities Class Action Lawsuit Against Exxon Mobile Corporation
NEW YORK, March 16, 2021 (GLOBE NEWSWIRE) – Bernstein Liebhard, a nationally recognized investor rights law firm, is reminding investors of the deadline to file a lead plaintiff motion in a class action lawsuit filed on behalf of investors who bought or acquired the securities of Exxon Mobil Corporation (“Exxon” or the “Company”) (NYSE: XOM) from November 6, 2019 through January 14, 2021 (the “Class Period”). The lawsuit in the US District Court for the Northern District of Texas alleges violations of the Securities Exchange Act of 1934.
If you Have purchased Exxon securities and / or wish to discuss your legal rights and options Please visit Exxon Shareholder’s class action lawsuit or contact Matthew E. Guarnero toll-free at (877) 779-1414 or MGuarnero@bernlieb.com.
The complaint alleges that throughout the teaching period, defendants made materially false and / or misleading statements and did not communicate anything to investors: (i) Exxon has forced its employees to make unrealistic assumptions about the timing of drilling in the Permian Basin ; (ii) the foregoing assumptions were made to artificially add value to the Company’s wellbore operations in the Permian Basin; (iii) the foregoing conduct, if exposed, has placed Exxon at increased risk of regulatory investigation and oversight; and (iv) as a result, the Company’s public statements at all relevant times have been materially false and misleading.
On January 15, 2021, the Wall Street Journal published a pre-marketing article entitled “Exxon Pulls SEC Probe Over Valuation of Permian Basin Assets”. The article reported that the SEC investigation stemmed from a whistleblower complaint that during an internal assessment in 2019, workers were forced to make unrealistic assumptions about how quickly wells could be drilled in the Permian Basin achieve a higher rating and that at least one worker who complained about the assumptions was fired.
The story goes on
In the news, Exxon’s share price fell $ 2.42 per share, or 4.81%, to close at $ 47.89 per share on January 15, 2021.
If you want to serve as the lead plaintiff, you must transfer the court by March 29, 2021 at the latest. A lead plaintiff is a representative party who acts on behalf of other class members in directing the dispute. Your ability to partake in a recovery does not require you to be the lead plaintiff. If you don’t take action, you may remain an absent class member.
If you Have purchased Exxon securities and / or wish to discuss your legal rights and options Please visit https://www.bernlieb.com/cases/exxonmobilecorporation-xom-shareholder-class-action-lawsuit-stock-fraud-358/apply/ or contact Matthew E. Guarnero toll-free at (877) 779-1414 or MGuarnero@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has collected more than $ 3.5 billion for its clients. In addition to representing individual investors, the firm has been hired by some of the country’s largest public and private pension funds to oversee their assets and litigate on their behalf. Because of its litigation success with hundreds of lawsuits and class actions, the firm has been featured on the National Law Journal’s “Hot List” thirteen times and on The Legal 500 for ten consecutive years.
LAWYER. © 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The attorney responsible for this Connecticut state complaint is Michael S. Bigin. Past results do not guarantee or forecast a similar result with respect to future matters.
Matthew E. Guarnero
Bernstein Liebhard LLP