California Pushes for Company Profits Recovery in Climate Lawsuit Against Big Oil

Monday, 10 June 2024, 20:55
In a significant move, California is seeking to recover profits of Big Oil companies through legal actions. This comes after the state law enabled the attorney general to pursue earnings from companies violating competition and advertisement laws. Attorney General Rob Bonta recently included a profit recovery remedy in a lawsuit against major players such as Exxon Mobil, Chevron, Shell, BP, ConocoPhillips, and the American Petroleum Institute.
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California Pushes for Company Profits Recovery in Climate Lawsuit Against Big Oil

California Climate Lawsuit Targets Big Oil's Profits for Legal Remedy

The legal action comes months after a new state law took effect that allows the attorney general to seek profits earned by companies while they violated laws against unfair competition and false advertising.

Attorney General Rob Bonta added the so-called disgorgement remedy to a lawsuit filed last year against Exxon Mobil, Chevron, Shell, BP, ConocoPhillips and oil and gas industry trade group the American Petroleum Institute (API).

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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