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iphone 7 case Sign in / Join NowSummaryLast summer, seven California cities and counties sued 17 oil and gas energy producers claiming that they http://Newsi.Ivyro.net/?p=13621 have created a public nuisance and have caused climate change related damage.Given the severity and specificity of the claimed harm and damages sought, it is peculiar that the disclosures in the plaintiff municipal and city bond issuance documents are very limited.There is little doubt that these suits have been the result of the dissatisfaction some states feel towards federal environmental and energy policies.Last summer, seven California cities and counties sued 17 oil and gas energy producers claiming that they have created a public nuisance and have caused climate change related damage that has increased sea levels in California and exposed the plaintiff governments to massive damages from natural disasters. Exxon Mobil (XOM) has now filed a petition, in District Court, to depose a number of people in the matter.This is the latest in a series of lawsuits brought by California, Massachusetts, Vermont, and New York and a small number of other cooperating state and local governments against auto, utility, and energy producing businesses.Given the severity and specificity of the claimed harm and damages sought, it is peculiar that the disclosures in the plaintiff's municipal and city bond issuance documents make very limited disclosures of any climate change risks. As a result, it appears these suits will either (A) create new economic risks and hazards for bond investors and, in the case of 'wrapped' deals, the bond insurers that wrap those California municipal debts or (B) provide the investors and bond insurers with the information with which to claim they have been defrauded by those municipalities.Ironically, as a result of the subprime mortgage crisis, many of the same California counties that brought these latest environmental lawsuits filed suits against the five largest municipal bond insurers for "forcing" local governments to needlessly buy bond insurance in order to get higher credit ratings and issue debt with lower interest rates.Analysis We have compiled a full analysis of each municipal bond issued within each plaintiff geography and all relevant details iphone 7 case.
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