A lawsuit was filed on behalf of investors in Exxon Mobil Corporation (NYSE: XOM) shares over alleged securities laws violations.

San Diego, CA -- (SBWire) -- 02/12/2021 --An investor, who purchased shares of Exxon Mobil Corporation (NYSE: XOM), filed a lawsuit over alleged violations of Federal Securities Laws by Exxon Mobil Corporation.

If you purchased a significant amount of shares of Exxon Mobil Corporation (NYSE: XOM) between November 6, 2019 and January 14, 2021, and / or if you purchased any NYSE: XOM shares prior to November 2019 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: March 29, 2021. NYSE: XOM investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On January 15, 2021, an article was published titled, "Exxon Draws SEC Probe Over Permian Basin Asset Valuation." According to the article, the SEC is probing the Company following a whistleblower complaint. The complaint alleged that the Company forced employees working on an internal assessment to use unrealistic assumptions about how quickly its wells in the Permian Basin could be drilled to achieve a higher valuation. According to the complaint, at least one employee who complained about using the unrealistic assumptions was then fired.

Shares of Exxon Mobil Corporation (NYSE: XOM) declined from $51.08 per share on January 14, 2021, to $44.53 per share on January 27, 2021.

The plaintiff claims that between November 6, 2019 and January 14, 2021, the Defendants made false and/or misleading statements and failed to disclose to investors that Exxon forced its employees to use unrealistic assumptions regarding the timelines for well drilling in the Permian Basin, that the foregoing assumptions served to artificially inflate the value of the Company's well operations in the Permian Basin, that the foregoing conduct, when revealed, subjected Exxon to a heightened risk of regulatory investigation and oversight, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Exxon Mobil Corporation (NYSE: XOM) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.