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Challenge to $225M Exxon settlement to be heard in court
Headline Legal News |
2017/09/10 09:04
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Environmental groups arguing New Jersey's $225 million settlement with Exxon Mobil short-changed taxpayers are getting their day in appeals court.
The Appellate Court is set to hear arguments on Monday in Trenton.
New Jersey sued Exxon Mobil for natural resources damages at sites across the state in 2004.
A New Jersey judge approved the deal between Republican Gov. Chris Christie's administration and the petroleum company in 2015.
The idea was to hold the company responsible for cleaning up polluted areas, including two oil refineries in Bayonne and Linden and other sites and retail gas stations and to compensate the public for the alleged harm to groundwater and other resources.
Environmental groups say the state settled for pennies on the dollar after earlier estimating the cost at $8.9 billion.
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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