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Did CA Climate Con Artists Promote Bond Scam Based on Fraud?

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Oops: CA cities suing oil companies over 'climate change' may be revealing their own bond fraud - Liberty Unyielding

"A number of California cities and counties have recently filed lawsuits against several oil and gas companies, claiming that these companies failed to disclose the alleged risks of climate change," CEI attorneys Sam Kazman and Devin Watkins wrote to the SEC.

"However, in these lawsuits the plaintiff cities and counties apparently describe these climate risks in ways that are far different than how they described them in their own bond offerings. In our view, this inconsistency raises serious questions of municipal bond fraud," the attorneys added.

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"[I]n their lawsuits many of the municipalities claim to be able to accurately be able to predict sea level rise caused by climate change," Kazman and Watkins wrote. "However, some of the bond offerings of these municipalities state that such predictions were not possible."

For example, San Francisco's lawsuit predicts "0.3 to as much as 0.8 feet of additional sea level rise by 2030," which could cost $5 billion in the long-term. But the city told investors they were "unable to predict whether sea-level rise or other impacts of climate change or flooding from a major storm will occur, when they may occur."

"Either the City can predict such sea-level rise, as it tells the court, or it cannot, as it tells investors," CEI's attorneys wrote.

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