BP Must Face Investors’ Fraud Claims Spurred by Gulf Oil Spill

BP Plc must face fraud claims by investors who said the company lied before and after the 2010 Gulf of Mexico oil spill about its accident response capability, a federal judge said.

U.S. District Judge Keith P. Ellison in Houston yesterday allowed holders of BP American depositary receipts to pursue claims alleging violations of U.S. securities law. He dismissed claims by investors who bought ordinary shares of London-based BP, saying his court has no jurisdiction over them.