Pages Marked as "Sec"
Chevron Investors Ask SEC to Investigate CVX for Lying to Shareholders about $19B Ecuador Judgment
23 May 2013 | Amazon Defense Coalition
New York, NY – Fourteen shareholder groups petitioned the Securities and Exchange Commission today to investigate lies and sins of omission to shareholders about the severity of the $19 billion judgment against the company for destruction of the environment and public health in Lago Agrio, Ecuador. The groups say Chevron is misleading investors about what the judgment could mean for Chevron's financial future. More »
SEC Tries to Silence Chevron Shareholders
18 March 2013 | The Chevron Pit
Not surprisingly, the Securities and Exchange Commission has rubber stamped Chevron's request to remove a shareholder resolution from consideration at its annual shareholders meeting that would have stripped John Watson of his Chairman's title and responsibilities. More »
Chevron Boxes Itself in with SEC Move
13 March 2013 | The Chevron Pit
Chevron's decision to ask the SEC to allow it to dropkick shareholder resolutions calling for the duties of Chairman and CEO to be split – essentially demoting current Chair and CEO John Watson – has boxed the oil giant into a public relations defeat. More »
Chevron Petitions SEC to Omit Enquiry on Shareholder Subpoenas from AGM Ballot
Firm seeks to block attempt to find out why it has started legal action against investors
8 February 2013 | Responsible Investor
US oil giant Chevron has written to the Securities and Exchange Commission (SEC) asking it to exclude a resolution from its annual general meeting (AGM) that seeks to find out why it is pressuring investors to reveal correspondence about its legal trouble with Ecuador. More »
Chevron Loses Environment Case Appeal
30 January 2013 | The Financial Times
Buenos Aires, Argentina – Chevron has lost its appeal in Argentina against asset freezes to enforce an Ecuadorean judgment for the oil major to pay record $19bn damages for environmental pollution and must spell out the impact in its results statement on February 1 or risk violating SEC rules. More »
Argentine Court Upholds Freeze on Chevron Assets
30 January 2013 | Reuters
Buenos Aires, Argentina – An Argentine appeals court has upheld a freeze on up to $19 billion worth of assets held by U.S. oil major Chevron Corp in Argentina as part of an environmental lawsuit by Ecuadorean villagers. More »
Chevron Deceiving SEC and Shareholders Over $19 Billion Ecuador Liability, Says New Report
14 January 2013 | Amazon Defense Coalition
New York, NY – Chevron's CEO John Watson and his management team are continuing to publish false and materially misleading information to government regulators and shareholders regarding the enormous risks posed by the company’s failure to pay a $19 billion environmental damages judgment in Ecuador. More »
New York State Comptroller DiNapoli Hits Back at Chevron over Ecuador
DiNapoli calls Chevron’s ethical complaint "baseless"
19 December 2012 | Responsible Investor
Thomas DiNapoli, who as New York State Comptroller is the trustee of the state's $150.3 billion retirement fund, has dismissed a complaint filed against him by Chevron which alleges that he received campaign funds for urging the firm to settle its legal battle with Ecuador over pollution in the country's rainforest. "This is a baseless attempt by big oil to intimidate me and it won't work, DiNapoli said. More »
Chevron Aims at an Activist Shareholder
8 December 2012 | The New York Times
Public corporations routinely tell shareholders that their views matter. So it might seem odd that last month Chevron subpoenaed one of its investors, Trillium Asset Management, which has sponsored numerous shareholder proposals at Chevron over the years. More »
Did President Obama & His Justice Department Extort Money From BP?
16 November 2012 | The Chevron Pit
Based on legal arguments being made in a U.S. court, Chevron would have you believe so. Chevron has accused the Ecuadorian indigenous groups and their lawyers suing the oil giant for massive oil contamination in the Amazon rainforest of extorting money from the company by applying pressure on its executives to settle. More »
BP Held Accountable for Deaths & Oil Spill; Chevron Remains Fugitive from Justice
15 November 2012 | The Chevron Pit
Today BP got hit with four arrests for manslaughter and lying to Congress and $3 to $5 billion in federal fines for the ACCIDENTAL oil spill that resulted in 11 deaths and an estimated $40 billion plus in damages to individuals and local businesses. This news is in stark contrast to the legal battle against Chevron for massive oil contamination in Ecuador. More »
Chevron's Latest "Defense" in Ecuador Case: Hide Assets in Subsidiaries
12 November 2012 | The Chevron Pit
After a dreadful series of legal setbacks, it sure didn't take long for Chevron to come up with a new tricked-up defense to evade the $19 billion Ecuador environmental judgment. Like Chevron's many other failed defenses in the Ecuador case, this one won't wash either. More »
Shareholder Shocker: Chevron's Assets Frozen in Argentina
9 November 2012 | Eye on the Amazon
The internet exploded Wednesday with news that an Argentinian judge ordered seizure of Chevron's in-country assets in what could be the first of many rulings enforcing a $19 billion judgment from an Ecuadorian court. More »
Not Chump Change: $2 Billion in Chevron Assets Likely Frozen in Argentina Soon
2 November 2012 | The Chevron Pit
The Ecuadorians who recently won a $19 billion judgment against Chevron for oil contamination in the Amazon rainforest have filed a lawsuit in Argentina, asking a court to freeze $2 billion in Chevron's Argentina assets as partial payment for the judgment. More »
Chevron's Ecuador $19 billion Pollution Problem Now An Issue in Florida Senate Race
18 October 2012 | The Chevron Pit
Chevron's oil-related catastrophe in Ecuador is now an issue in the hotly-contested Florida Senate race between Democratic incumbent Bill Nelson and his challenger, Republican Connie Mack. More »
Chevron Facing Wall Street Criticism Over $19 Billion Ecuador Liability
15 October 2012 | The Chevron Pit
Wall Street analysts rarely take controversial positions on publicly traded companies whose stock is doing well. But Chevron’s mishandling of its $19 billion liability in Ecuador for dumping toxins into the Amazon is beginning to look like the exception. More »
U.S. Congresswoman Seeks Probe of Chevron Over $18 Billion Ecuador Case
11 June 2012 | Amazon Defense Coalition
Washington, DC – A U.S. Congresswoman has asked the Securities and Exchange Commission to determine whether Chevron is violating securities laws related to a court finding that it deliberately dumped billions of gallons of toxic waste into the Amazon rainforest. More »
Shareholders Reprimand Chevron CEO Watson at Annual Meeting Over $18 Billion Ecuador Liability
28 May 2012 | Amazon Defense Coalition
San Ramon, CA – Chevron CEO John Watson today suffered a stunning reprimand during a tense annual meeting when shareholders voted in massive numbers to support resolutions citing his failure to properly manage the company's $18 billion adverse judgment in Ecuador. More »
40 Institutional Investors Demand Chevron Settle Ecuador Environmental Case
28 May 2012 | Amazon Defense Coalition
New York, NY – Only days before its annual shareholder meeting, forty Chevron investors with $580 billion in assets under management have demanded the oil giant settle the $18 billion environmental lawsuit brought by impoverished indigenous groups in the Ecuadorian rainforest almost two decades ago. More »
Shareholders Urge Chevron To Stop Fighting Ecuador Judgement
25 May 2012 | Dow Jones
A shareholder group led by New York State Comptroller Thomas P. DiNapoli is urging Chevron Corp. to settle a nearly 20-year legal battle pitting the multinational corporation against indigenous people in the Ecuadorian rainforest. More »
New York State Pension Fund Renews Call for Chevron to Resolve Ecuador Lawsuit
25 May 2012 | New York State Comptroller
New York, NY – New York State Comptroller Thomas P. DiNapoli joined with 39 other investors from the United States, Canada and Europe, with a combined total of $580 billion in assets under management, to call on Chevron to settle its two-decade-long legal battle with indigenous populations in the Amazon rainforest. More »
Chevron CEO Faces Growing Anger From Shareholders Over $18 Billion Ecuador Liability
23 May 2012 | Amazon Defense Coalition
New York, NY – An epic showdown between angry Chevron shareholders and notoriously short-tempered CEO John Watson over the company's $18 billion Ecuador liability is brewing just days before the company's annual meeting next week. More »
Is Chevron in Violation of Securities Law?
New reports on Chevron's liabilities relating to environmental damages in Ecuador assert that while the company's legal options have narrowed significantly, its public filings repeat the same arguments made in 2008. First of a two-part series.
18 May 2012 | SocialFunds.com
The legal decisions continue to fall against Chevron, as the $18 billion judgment against it for environmental degradation in Ecuador has been upheld in appeals courts. More »
Chevron Faces "Irreparable Damage" Because of $18 Billion Ecuador Judgment, Says New Financial Analysis
14 May 2012 | Amazon Defense Coalition
New York, NY – A new financial analysis has found that Chevron's $18 billion Ecuador environmental liability poses a threat of "irreparable damage" to the oil major's global operations if the plaintiffs make good on their promise to launch legal actions to enforce the judgment in countries where Chevron has billions of dollars in assets. More »
Shareholders Slam Chevron With Request for SEC Investigation Over Ecuador Judgment
14 May 2012 | Amazon Defense Coalition
New York, NY – Chevron now faces another headache over its $18 billion Ecuador judgments – this time from some of its own investors. More »
Robert F. Kennedy Jr. Confirmed Chevron's Ecuador Pollution in Powerful Essay
Saw Scenes That Looked Like "War" During Trip to Remote Region of Amazon in Early 1990s
7 May 2012 | Amazon Defense Coalition
New York, NY – In 1990, noted environmental lawyer Robert F. Kennedy Jr. was one of the first outsiders to travel to a remote area of Ecuador's Amazon to assess what at the time was considered one of the worst oil disasters on the planet. More »
Report: Chevron Misleading Investors Over Ecuador Environmental Judgment
17 April 2012 | Amazon Defense Coalition
New York, NY – Chevron's 2011 annual report misleads shareholders and the financial markets with information that is either demonstrably false or materially misleading regarding the $18 billion judgment against the company in Ecuador for causing environmental damage. More »
New York Comptroller Urges Chevron to Save "Battered Reputation" In Ecuador Litigation
5 October 2011 | Amazon Defense Coalition
New York, NY – The Comptroller who runs New York's $146 billion state pension fund has gone public to urge Chevron to "spare the company's battered reputation" by settling an environmental lawsuit spanning two decades in the Ecuadorian rainforest. More »
Chevron CEO Misled Shareholders at Annual Meeting with Corporate Video
Narrator Repeated False Statements in Cynical Bid to Blunt SEC Probe & Investor Outrage
1 June 2011 | Amazon Defense Coalition
New York, NY – A corporate video shown by Chevron CEO John Watson at last week's annual meeting was an attempt to mislead shareholders about the company's $18 billion Ecuador liability in the wake of a potential SEC probe, representatives of Ecuadorian indigenous and farmer communities said Tuesday. More »
Investors Ask SEC to Probe Chevron Over $18 Billion Ecuador Liability
Annual Meeting Dominated by Issues Relating to Ecuador Environmental Catastrophe
26 May 2011 | Amazon Defense Coalition
San Ramon, CA – With an $18 billion judgment in Ecuador hanging around its neck, Chevron's management now faces the unpleasant prospect of an SEC probe and a growing revolt among large shareholders upset with the company's failure to contain the risk related to the historic environmental lawsuit. More »
Investors Call on SEC to Probe Chevron over Ecuador Statements
Shareholders Intensify Pressure on Oil Major Ahead of Annual Meeting
24 May 2011 | Responsible Investor
Trillium Asset Management, the Boston-based sustainable and responsible investment specialist, has written to the Securities and Exchange Commission calling for the regulator to investigate Chevron Corp.'s disclosures about the recent $18bn Ecuador judgment. More »
Chevron CEO’s Legacy Marred by Mishandling of Ecuador Environmental Crisis
Failure to Properly Vet Texaco for Liability Likely Drove O’Reilly to Retire Early, Say Amazonian Communities
September 30 2009 | Amazon Defense Coalition
David O’Reilly’s surprise early retirement as CEO of Chevron comes at a time he was under increasing pressure from shareholders and the media over an environmental liability in Ecuador that could eat up roughly 20% of the market value of the company and has caused a wave of negative publicity and scrutiny from Wall Street analysts and a potential criminal investigation by New York Attorney General Andrew Cuomo. More »
Crude Filmmaker Responds to Chevron’s Attacks on Acclaimed New Documentary
Chevron Becomes More Defensive as theaters fill up for "Crude"
11 September 2009
In the September 9 Reuters news story “Is Chevron Scared of ‘Crude’ The Movie?”, Chevron spokesperson Kent Robertson criticizes the award-winning new film Crude on the day of its theatrical premiere, calling it “long on emotion and short on facts.” Crude director Joe Berlinger responds to the allegations: More »
Chevron Withdraws Key Legal Claim Before U.S. Federal Court Over $27B Ecuador Liability
Facing Adverse Ruling, Company Chooses To Avoid Litigation Over Controversial Legal Release
3 August 2009 | Amazon Defense Coalition
Chevron has quietly withdrawn a key legal claim in U.S. federal court against Ecuador's government over a $27.3 billion environmental liability in the Amazon, casting doubt about the company's public statements that it will not pay for a clean-up and raising questions about the effectiveness of its legal strategy, according to court records and lawyers representing indigenous communities in Ecuador. More »
Chevron Fails in Effort to Lift Trade Benefits
2 July 2009 | Inter-Press Service
In the latest in a string of setbacks that could cost the U.S. oil giant Chevron billions of dollars in damages, President Barack Obama decided this week to extend trade preferences for Ecuadorean exports for another six months under the 1991 Andean Trade Preferences Act (ATPA). More »
Chevron Rebuffed On Ecuador Trade Benefits By Obama Administration
Oil Giant Had Tried to Lobby USTR Over $27 Billion Environmental Liability in Ecuador’s Amazon
1 July 2009 | Amazon Defense Coalition
In a setback over its attempt to avoid a $27 billion environmental liability, Chevron has failed for the third time in as many years to convince the Obama and Bush administrations to cancel bilateral trade benefits for Ecuador in retaliation for letting indigenous groups sue the oil giant in that country’s courts. More »
Pension Funds Fret as Chevron Faces Ecuador Ruling
8 April 2009 | The Wall Street Journal
Big public pension funds are raising concerns about an impending court judgment that could hold Chevron Corp. liable for billions of dollars in alleged environmental damages in the Ecuadorian jungle.
The funds, which together hold $1 billion in Chevron shares, are worried that the oil giant could face as much as $27 billion in damages in the 15-year-old class-action case, which was filed by a U.S.
More »Chevron shareholders to vote on environmental report
16 April 2009 | Business News Americas
Chevron's shareholders will decide May 27 whether the board must prepare a report on the California-based oil major's compliance with host country environmental policies. More »
Pension Funds Reportedly Worried Over Chevron Suit
Environmental case in Ecuador at heart of a dispute involving the SEC
8 April 2009 | MarketWatch
NEW YORK – The Securities and Exchange Commission has sided with public pension funds in a dispute over whether Chevron Corp. should be required to include a shareholder proposal citing an environmental court case in Ecuador for which the oil giant is potentially liable for billions of dollars. More »
SEC Rejects Chevron Attempt to Block Shareholder Resolution on Ecuador Environment Case
Chevron Fines Have Tripled In Recent Years
8 April 2009 | Amazon Defense Coalition
WASHINGTON – The Securities and Exchange Commission has rejected an attempt by Chevron management to block a vote by shareholders on a high-profile resolution that threatens to focus attention on the company’s record-breaking $27 billion environmental liability in Ecuador, according to a letter made available by the regulatory agency on its website. More »
Chevron Misleads SEC Over Ecuador Lawsuit, Assert Rainforest Residents
Information in 10-Q Called "Dishonest" and "Misleading"
17 February 2009 | Amazon Defense Coalition
Chevron is deceiving shareholders and the financial markets by filing misleading information with the Securities and Exchange Commission (SEC) to downplay its $27 billion potential liability in a environmental lawsuit in Ecuador, representatives for the plaintiffs in that case asserted today. More »
Chevron Accused of Misleading Investors over $16 Billion Litigation Risk on Eve of Earnings Report
Lawsuit’s Plaintiffs Claim Oil Giant Avoiding Full Disclosure
1 August 2008 | Amazon Defense Coalition
In advance of Chevron's quarterly earnings report, representatives of Amazon indigenous leaders are warning oil industry analysts and the public markets that Chevron’s management is downplaying the company’s $16 billion litigation risk in a historic environmental case in Ecuador. More »
Chevron Accused of Lying To Shareholders Over $16 Billion Damages Claim In Ecuador Rainforest Case By Amazon Defense Coalition
CEO O'Reilly Violates SEC Regulations and Corporate Governance Duties By Hiding Liability, Lawyers Say
3 April 2008 | Amazon Defense Coalition
Chevron Corp.'s (CVX) management is lying to shareholders about the finding by a court expert that it faces up to $16 billion in liability for a major human rights catastrophe in the Amazon rainforest by dumping billions of gallons of toxic waste. More »
SEC Complaint Lodged Against Chevron for Hiding $10 Billion Liability in Ecuador
Chevron Misleads Investors, Says Amazon Watch
26 March 2008 | Amazon Watch
The Securities and Exchange Commission (SEC) was today urged to impose a "substantial" sanction on Chevron for misrepresenting facts to shareholders over a potential $10 billion liability resulting from a class-action environmental lawsuit in Ecuador's Amazon region. More »
Chevron Pays $30 Million to Settle Foreign Corrupt Practices Act Charges in Oil for Food Case
14 February 2008 | K&L Gates
On November 14, 2007, the SEC filed a settled Foreign Corrupt Practices Act civil complaint against Chevron arising from its role in making $20 million in improper kickbacks paid in connection with the U.N.-administered Oil for Food Program during Saddam Hussein’s reign. More »
More Pressure On SEC To Investigate Chevron For Hiding Massive Environmental Liability In Rainforest
1 March 2006 | Amazon Watch
Chevron distorted the results of a court report in Ecuador to hide a multi-billion liability it faces in a landmark environmental trial in the Amazon over what locals dub the "Rainforest Chernobyl", Amazon Watch has informed the Securities and Exchange Commission in a follow-up letter to a complaint the environmental group lodged with the regulator last month. More »
2006 Letter to SEC on Chevron Misinformation Campaign
28 February 2006 | Amazon Watch
This letter from Amazon Watch, a follow-up to a letter to the SEC about Chevron's failure to disclose its potential Ecuador liability to shareholders, warns the SEC of a misleading public relations campaign by Chevron intended to keep investors and the public in the dark. In the PR blitz in question, Chevron painted a very inaccurate picture of the results from the judicial inspection at the Sacha-53 well site, in order to downplay the significance of the evidence against the company. More »
Group Asks SEC to Probe Chevron's Handling of Ecuador Case
9 February 2006 | Oil Daily
Amazon Watch has asked the US Securities and Exchange Commission (SEC) to investigate Chevron for violating its regulations by failing to inform shareholders about the environmental liabilities involved in a decade long class action lawsuit in Ecuador. More »
Amazon Watch Asks SEC to Investigate Chevron Violations Over Ecuador Catastrophe
Management Hiding From Shareholders Potential Multi-Billion Dollar Legal Liability Over "Rainforest Chernobyl", Group Says
1 February 2006 | Amazon Watch
Amazon Watch today formally requested that the Securities and Exchange Commission (SEC) investigate the Chevron Corp. for repeatedly failing to report in its SEC filings a potential multi-billion dollar liability arising from its massive toxic contamination of the Ecuadorian Amazon. More »
2006 Memorandum on Chevron's SEC Filings
30 January 2006
This memorandum accompanied an Amazon Watch letter to the Securities and Exchange Commission (SEC) urging an investigation of Chevron for failing to disclose its Ecuador liability. The memo details the significance of the Ecuador litigation and the legal reasons why Chevron should have been required to disclose information about it to shareholders. More »
2006 Letter to SEC Chairman
30 January 2006 | Amazon Watch
This letter from Amazon Watch asks the Securities and Exchange Commission (SEC) to investigate Chevron for failing to disclose its potential enormous liability in Ecuador to its shareholders. For years, Chevron made no mention of the Ecuador litigation in its annual SEC filings, despite regulations that require companies to report such liabilities. More »
