On Eve of Showdown At Annual Meeting, Letter Explains How Management Puts Out False and Misleading Information
Former Sen. Sam Nunn Cited for Failing to Listen to Concerns

Chevron’s management and Board of Directors are failing to adequately discharge their fiduciary duties relating to a potential $27 billion liability in Ecuador for environmental damage caused by Texaco when it operated an oil concession in the Amazon from 1964 to 1990, the environmental group Amazon Watch charged in an open letter to the company’s shareholders.

The six-page letter asserts that Chevron’s management is providing “false, misleading, and incomplete” information about the Ecuador liability in its public filings and that Chevron’s Board of Directors is “passive” and had shown no inclination to independently vet management’s handling of the enormous Ecuador liability.