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Exxon Mobil tumbled as much as 6%, to $47.29, on Friday following a report from the Wall Street Journal that the SEC launched an investigation into the oil giant regarding its valuations of one of its most important oil and gas properties.People involved in valuing the property complained that employees were forced to use unrealistic assumptions about how quickly Exxon could drill wells there to arrive at a higher value, the Journal...
Continue Reading Exxon slides 6% after SEC launches investigation into the oil giant's asset valuations