Lago Agrio: The New Erion Report
Posted on January 22, 2013
The Lago Agrio plaintiffs have published a new report by Graham Erion, the Canadian lawyer who has previously taken Chevron to task over the sufficiency of its disclosures to investors regarding the Ecuador litigation. The new report is a revised and expanded verison of the old. Now there are important new angles for Erion to emphasize, in particular, the Argentina asset seizure.
Any investor who evaluates Chevron’s stock without doing a good amount of reading about the Ecuador litigation, and I don’t just mean Chevron’s 10-K, has another think coming. In other words, whether the disclosures in Chevron’s public filings are adequate as a matter of securities law, if you are planning to trade in Chevron stock, read up on the case and make your own judgments about the likelihood Chevron will ultimately pay any money.