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Stockholder accuses Exxon Mobil, board members of misleading public

By Louie Torres | Nov 16, 2016

DALLAS (Legal Newsline) — A stockholder is suing Exxon Mobil and board members, alleging they made false and misleading statements about the company's financial condition. 

Pedro Ramirez Jr. filed a class action complaint, individually and on behalf of all others similarly situated, Nov. 7 in U.S. District Court for the Northern District of Texas against Exxon Mobil Corporation, Rex W. Tillerson, Andrew P. Swiger and Jeffrey J. Woodbury, alleging violation of federal law. 

According to the complaint, Ramirez suffered financial damages because the defendants failed to disclose certain information regarding Exxon Mobil in order to artificially inflate the company's common stock prices.

Ramirez seeks trial by jury, compensatory damages, all damages, interest, court costs and all further relief the court grants. He is represented by attorneys Joe Kendall and Jamie J. McKey of Kendall Law Group PLLC in Dallas; by Balon B. Bradley of Balon B. Bradley Law Firm in Dallas; by Samuel H. Rudman and Mary K. Blasy of Robbins Geller Rudman & Dowd LLP in Melville, New York; by Patrick J. Coughlin of Robbins Geller, Rudman & Dowd in San Diego; and by Jeffrey Abraham of Abraham, Fruchter & Twersky LLP in New York.

U.S. District Court for the Northern District of Texas Case number 3:16-cv-03111-L

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Exxon Mobil U.S. District Court for the Northern District of Texas

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