ExxonMobil (XOM) Said Probed by NY AG Over Accounting Practices
- Wall St. set to open lower, weighed down by GE
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
- General Electric (GE) Tops Q3 EPS by 2c; Updates FY16 EPS Outlook
- Pre-Open Stock Movers 10/21: (ALKS) (RAI) (PFPT) (MSFT) Higher; (SGY) (TWLO) (RRGB) Lower (more...)
- Oil rises on Russia's output freeze commitment
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
- InterOil Corp. (IOC) Updates on Court of Appeal Process Related to ExxonMobil (XOM) Litigation; Says Hearing Will be Expedited
- J2 Global (JCOM) Unit Enters Agreement to Acquire Everyday Health (EVDY) in $465M Deal
- GE (GE) Downplays Varian (VAR) Takeover Rumors
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!