NEW YORK, Jan. 23, 2021 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Exxon Mobil Corporation (NYSE: XOM) resulting from allegations that Exxon Mobil may have issued materially misleading business information to the investing public.
On January 15, 2021, The Wall Street Journal published an article titled, "Exxon Draws SEC Probe Over Permian Basin Asset Valuation." The article reported that the U.S. Securities and Exchange Commission launched an investigation after an Exxon Mobil employee filed a whistleblower complaint alleging that the Company overvalued one if its most important oil and gas properties. The whistleblower complaint asserts that during a 2019 internal assessment, workers were forced to use unrealistic assumptions about how quickly wells in the Permian Basin could be drilled to reach a higher valuation.
On this news, Exxon Mobil's stock price fell $2.42 per share, or 4.81%, to close at $47.89 per share on January 15, 2021.
Rosen Law Firm is preparing a securities lawsuit on behalf of Exxon Mobil shareholders. If you purchased securities of Exxon Mobil please visit the firm's website at http://www.rosenlegal.com/cases-register-2021.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm's attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
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