BP Shareholders Seek to Sue as Group Over 2010 Gulf Spill Losses
This article is for subscribers only.
BP Plc’s U.S. investors asked a federal court to grant class action, or group, status for their lawsuit claiming the company misled them before and after the 2010 spill in the Gulf of Mexico.
The investors, led by the New York and Ohio pension funds, sued BP and certain officers in 2010, alleging violations of U.S. securities laws. The investors also claim the company publicly proclaimed a commitment to safety improvement while internally cutting budgets and rejecting employees’ concerns about safety.