at the Citizen Power Alliance 2010 Wind Conference
SEC Petitioned to Warn Companies Against Making False and Misleading Claims on Global Warming; Misinformation Puts Investors at Risk, Says Free Enterp
|WASHINGTON, July 23, 2008 /PRNewswire-USNewswire via COMTEX/ -- The Free Enterprise Action Fund (Ticker: FEAOX) submitted a letter (linked here:) to the U.S. Securities and Exchange Commission (SEC) requesting the SEC to warn publicly-owned companies against making false and misleading statements pertaining to global warming and other environmental issues.|
The FEAOX cited several examples of such false and misleading statements, including the following:
1. Exelon Corp. issued a media release and placed full-page advertisements in major newspapers on July 15, 2008 stating, "The science is overwhelming -- climate change is happening now and human activity is the primary cause."
2. Lehman Brothers issued a report on climate change featuring the so-called "hockey stick" graph to support the notion that humans are causing global warming.
3. The General Electric Company issued a "Call for Action" to "slow, stop and even reverse the damage of greenhouse gasses."
4. Toyota Motor Corp states in a report, "When we drive a vehicle, it consumes fossil fuels and emits CO2, a major contributor to climate change."
5. Goldman Sachs states in a 2007 report, "By now, the dynamics of global warming are widely known, and we find no reason to dispute the scientific assumptions..."
6. Caterpillar said in a public statement that, "We must take action now [to reduce carbon dioxide emissions] or risk serious harm to our planet."
The FEAOX believe the SEC should take action immediately to protect investors, because numerous recent developments (linked here:) have tended to expose the above-mentioned registrant statements (and probably many others) as false and/or misleading. In conclusion, the FEAOX requests that the SEC immediately inform and remind registrants that:
(Click to read the entire report)
posted by CITIZEN POWER ALLIANCE at 1:04 PM - permanent link
Citizen Speak campaign mailing to your own contact list