In 1921, fears of financial fraud spurred New York to adopt the Martin Act, a state law that gives authorities broad authority to prosecute crimes involving corporate malfeasance. In the nearly 100 year history of the law, state prosecutors have used the law to crack down on everything from Ponzi schemes to mortgage fraud to widespread Wall Street abuses.

Now the state of New York is considering using the law in a novel new way, according to Reuters. The state’s Attorney General Eric Schneiderman is looking into a possible case against oil giant Exxon Mobil following recent investigative news reports finding that the company mislead the public and investors about the company’s knowledge of climate change and the impact of fossil fuels.

Earlier this week, Schneiderman’s office subpoenaed Exxon for emails, financial records, and other documents relating to the company’s research and disclosures on climate change over the past four decades. Exxon says its work on the issue has been transparent and has included proper disclosures to shareholders.

A New York State Supreme Court ruling in 1926 defined the Martin Act as covering “all deceitful practices contrary to the plain rules of common honesty.” In 1982, the Act was amended to allow prosecution of felony cases.

In 2003, ten investment banks paid $1.4 billion in a legal settlement with the state after the then-Attorney General Eliot Spitzer brought Martin Act charges against the companies, who were charged with misleading investors with inaccurate stock research.

Numerous lawmakers have asked Congress and the Justice Department to investigate the allegations against Exxon. But analysts note that the standard for such a prosecution is high under weaker federal rules. Under the Martin Act, New York has much more broad authority, and a less challenging legal bar to meet in pursuing a state case against the company.

Exxon Mobil may not be the only oil company in hot water over global warming deceptions. Democratic California representatives Ted Lieu has circulated a letter to colleagues citing a report by the nonprofit Union of Concerned Scientists that outlines a long history of misinformation campaigns by other oil companies.