BPPLC has reached a settlement today with the Justice Department, in which thecompany will pay $4.5 billion and plead guilty to criminal misconduct chargesrelated to the Deepwater Horizon explosion.
According to a release from the company, BP will pay$4 billion to the Justice Department over the course of five years and $525million to the Securities and Exchange Commission over the course of threeyears. The penalty far exceeds the $1.3 billion fine Pfizer forked over in 2009for the false marketing of Bextra pain medication.
