New York struggles to show Exxon Mobil misled investors on climate

State offers no hard evidence of an effort to mislead holders

New York rested its securities-fraud case against Exxon Mobil Corp. after nine days of trial testimony without appearing to produce any definitive evidence that the oil company intentionally misled investors about how it accounted for climate-change risks.

Exxon began presenting its first witnesses on Friday and may wrap up its defense late next week. The company is expected to call employees, accountants and experts to the stand to stave off claims that it lied to the public about the way it plans for future climate regulations.

For the second time during the three-week trial, climate protesters, most of them young people, picketed