- New York City has sued Exxon Mobil (XOM -1.5%), Royal Dutch Shell (RDS.A -2.2%), BP (BP -2.5%) and the American Petroleum Institute for allegedly running deceptive ads claiming their products are "cleaner" and "emissions-reducing" while failing to disclose their harmful effects on the climate.
- The lawsuit, filed in the Supreme Court of the State of New York, alleges the companies and the trade group violated the city's Consumer Protection Law by convincing customers that the purchase and use of their products contributes to addressing climate change.
- The complaint alleges the companies mischaracterized the size of their investments in low-emission technologies and zero-emission renewable energy on advertisements, social media and other promotional materials.
- A separate lawsuit filed by NYC against major oil companies for damages caused by global warming recently was dismissed in the U.S. Second Circuit Court of Appeals.