A New York state judge found Exxon Mobil Corp. not guilty of fraud, saying Tuesday that the New York state attorney general had failed to establish the oil giant had deceived its investors about how it accounted for the cost of future climate-change regulations.

The verdict, which capped a nearly three-week civil trial between Exxon and the New York attorney general’s office, is a victory for the company, which had spent several years fighting the case. The company is also battling similar accusations in other state and federal…

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