BP Deepwater Horizon Securities Suit, Though Narrowed, Survives Dismissal Motion : The D & O Diary

BP Deepwater Horizon Securities Suit, Though Narrowed, Survives Dismissal Motion : The D & O Diary:

by Kevin LaCroix

"In the wake of the disastrous April 2010 Deepwater Horizon oil spill, BP was hit with a wave of litigation from plaintiffs asserting claims of personal injury, wrongful death and property damage. The claimants also included BP shareholders raising allegations that they had been misled regarding BP safety efforts and processes. In a 129-page February 13, 2012 opinion (here), Southern District of Texas Judge Keith Ellison, while granting the defendants’ motion to dismiss certain of plaintiffs’ allegations, denied defendants’ motion to dismiss many of the allegations of BP investors who had purchased BP American Depositary Shares (ADS) on the New York Stock Exchange."

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