SHAREHOLDER ACTION ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Exxon Mobil Corporation and Encourages Investors with Losses in Excess of $500,000 to Contact the Firm
LOS ANGELES, March 5, 2021 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Exxon Mobil Corporation ("Exxon" or "the Company") (NYSE: XOM) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between November 6, 2019 and January 14, 2021, inclusive (the ''Class Period''), are encouraged to contact the firm before March 29, 2021.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Exxon forced employees to use completely unrealistic assumptions about timelines for the Company's well drilling activities in the Permian Basin. These unrealistic assumptions artificially inflated the value of the Company's operations in the area. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Exxon, investors suffered damages.