New York judge sides with Exxon Mobil in climate fraud case

A New York judge sided with Exxon Mobil on Tuesday in a closely-watched environmental case, concluding the oil giant did not mislead investors in its climate change disclosures.

The ruling by Barry Ostrager, a judge in the New York state court, rejected arguments by the state's attorney general that the company duped investors by downplaying the costs of mitigating climate change.

The decision came after a trial that included testimony from former Exxon Mobil CEO Rex Tillerson and focused on granular questions of accounting at a company that has long been a lightening rod for environmentalists.

In a sweeping 55-page ruling, Ostrager wrote that Exxon Mobil employees called by New York to bolster its case were "uniformly favorable to Exxon Mobil" and that employee witnesses were "comprehensive and meticulous" in their work.