Exxon Mobil wins investor fraud trial over Canadian oil sands, gas assets

A Texas jury found Exxon Mobil not liable on May 13, 2026, in a securities fraud case alleging the company misled investors about its Canadian oil sands operations and Rocky Mountain gas assets. The 2016 lawsuit claimed Exxon concealed losses in its Canadian bitumen business, failed to properly apply carbon-cost assumptions in reserve valuations and delayed impairment charges tied to Rocky Mountain dry gas assets. Investors who bought Exxon common stock from February 24, 2016, to October 28, 2016, failed to prove the company misled them, according to a verdict sheet filed in Dallas federal court. The plaintiffs alleged they purchased Exxon shares at artificially inflated prices because the company withheld material information about reserve valuations and accounting practices.