NEW YORK, Feb. 19, 2021 (GLOBE NEWSWIRE) -- Pawar Law Group announces a class action lawsuit on behalf of shareholders who purchased shares of Exxon Mobil Corporation (NYSE: XOM) from November 6, 2019 through January 14, 2021, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Exxon Mobil Corporation investors under the federal securities laws.
According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: Exxon forced its employees to use unrealistic assumptions regarding the timelines for well drilling in the Permian Basin; the foregoing assumptions served to artificially inflate the value of the Company’s well operations in the Permian Basin; the foregoing conduct, when revealed, subjected Exxon to a heightened risk of regulatory investigation and oversight; and as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you wish to serve as lead plaintiff, you must move the Court no later than March 29, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff.
Pawar Law Group represents investors from around the world. Attorney advertising. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1410
New York, NY 10007
Tel: (917) 261-2277
Fax: (212) 571-0938