BP investors are the latest plaintiffs to go to court over the Gulf of Mexico oil spill, alleging the company has long put profits ahead of safety and now faces potentially billions in losses because of the ongoing disaster. A shareholder derivative suit was filed in New Orleans federal court and a similar class action is being filed in Alabama by 40-plus BP shareholders who contend the company's allegedly poor safety record, coupled with the oil rig accident, could ultimately destroy the company.
May 11, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Now come the shareholders.
BP PLC’s investors are the latest plaintiffs to go to court over the Gulf of Mexico oil spill, alleging the company has long put profits ahead of safety and now faces potentially billions in losses because of the ongoing disaster.
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