ExxonMobil (XOM) Said Probed by NY AG Over Accounting Practices
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
ExxonMobil (NYSE: XOM) shares are on watch following reports that New York Attorney General Eric Schneiderman is launching a probe into certain accounting practices being conducted by the company.
The WSJ noted Friday that Schneiderman is questioning why ExxonMobil hasn't written down the value of its assets following the recent collapse in the oil market. The AG has been looking into the company's past knowledge of the impact of climate change.
One report has the global value of oil wells falling $200 billion since 2014. ExxonMobil has been the only major oil producer to have not taken a write-down on its assets over the last few years, calling into question said accounting practices.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Teva Pharma (TEVA) Loses Bid to Revive '413, '250, and Third Capaxone Patent in IPR Review - Bloomberg
- Obama Poised to Block Chinese Takeover of Aixtron SE (AIXG) - Bloomberg
- UPDATE: AT&T (T) Thinks Time Warner (TWX) Deal Has Good Chance After Talking to Trump's Team - FT
Create E-mail Alert Related CategoriesLitigation, Rumors, Trader Talk
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!