Amazon Defense Coalition Says Chevron (CVX) Faces Asset Seizure in Brazil

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Shares of Chevron (NYSE: CVX) are trading lower at the open, on possible news that the company lost a landmark court judgment.

According to the Amazon Defense Coalition, Villagers from Ecuador's rainforest have won a court judgment (for causing massive environmental and health damage) to seize company assets in Brazil. Apparently, the assets would be sold to help pay for cleanup and damages.

To see the press release from the Amazon Defense Coalition, click here

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