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This is especially true when we consider that the total return offered by those shares has been 1,063% since January 1989 and 167% since January 2004. A misrepresentation may have occurred, but it is extremely difficult to argue that it caused harm to the company's shareholders and still more difficult to quantify the amount of any harm.World Petroleum Consumption data by YChartsIt should be noted that this is entirely distinct from the moral argument about any such misrepresentation by the company circa 1990. For the purposes of the Martin Act, however, I don't see how the advertorials published by Exxon Mobil between 1989 and 2004 constitute a clear violation.

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