Judge green-lights investor claims against BP

February 8, 2013

A federal judge has signed off on a large portion of a class action brought on behalf of certain investors in BP PLC shares who sued the company and its senior executives for alleged securities fraud related to the Deepwater Horizon oil spill. The ruling allows investors to go forward with claims that BP and former chief executive officer Anthony Hayward misled the public about the scope of BP's operating management system, a safety program introduced before the 2010 disaster spread millions of gallons of oil throughout the Gulf of Mexico.