ExxonMobil (XOM) Said Probed by NY AG Over Accounting Practices
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk 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
- InterOil Corp. (IOC) Updates on Court of Appeal Process Related to ExxonMobil (XOM) Litigation; Says Hearing Will be Expedited
- Coach (COH) won't comment on rumors or speculation - Bloomberg, citing spokesperson
- TripAdvisor (TRIP) Gains Said Tied to Takeover Rumors - Chatter
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!