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8 Apr 2009

Neil King Jnr, Wall Street Journal

Pension Funds Fret as Chevron Faces Ecuador Ruling

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...The public-employee pension funds of New York City, as well as those of the states of New York, Maryland and Pennsylvania have asked company directors to clarify how Chevron planned to protect itself in the event of an unfavorable verdict in the case.

Part of the following timelines

Big US public pension funds concerned by lawsuit against Chevron over pollution in Ecuador

Texaco/Chevron lawsuits (re Ecuador)