TNK-BP Minority Investor Calls for Shareholders to Join BP Suit
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OAO TNK-BP Holding minority shareholder Andrei Prokhorov called for investors to join a class action suit against BP Plc directors on the Moscow-traded oil producer’s board, according to an advertisement in the Kommersant newspaper today.
Minority shareholders led by Prokhorov are suing the U.K. explorer for 87 billion rubles ($2.9 billion) in damages, which they are related to the failure of BP’s planned share swap and Arctic exploration deal with state-run OAO Rosneft. TNK-BP Holding is the traded unit of the Russian oil venture that BP owns 50-50 with a group of billionaires.