BP Oil Spill Lawsuit In U.S. Wins Class-action Status
A U.S. judge has allowed a group of BP shareholders to pursue a class-action lawsuit accusing the company of misleading them by understating the severity of the 2010 Gulf of Mexico oil spill. The judge said investors who bought BP’s American depository shares shortly after the April 20, 2010 spill may pursue claims as a group that BP publicly “low- balled” the oil flow rate soon after the rig explosion, and that the share price “did not reflect the magnitude of the disaster facing the company.
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