Amazon Defense Coalition

Amazon Defense Coalition: Chevron Falls Short On Disclosure Obligations Relating to $27 Billion Ecuador Liability, Says RiskMetrics

Published in Law and Health Weekly, June 13th, 2009

In another setback to Chevron management, a leading investment advisory group is urging the oil giant to disclose more details of a potential $27 billion environmental liability in Ecuador just before what is expected to be a major showdown on the issue at the annual shareholder’s meeting May 27th in California.

The statement by RiskMetrics follows the announcement of a probe by the New York State Attorney General, Andrew Cuomo, to determine if Chevron is misleading investors about the liability, which concerns the clean-up of what experts believe is the worst oil-related contamination on the planet. The case is on trial in Ecuador at Chevron’s request after it was...

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Source: Law and Health Weekly (2009-06-13)

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