British Petroleum must face the investment fraud charges brought by investors
against the company after the April 2010 Deepwater Horizon Gulf oil spill,
according to a ruling by a federal judge last month. Investors say that BP made
misrepresentations both before and after the spill about its spill response capabilities
and its capacity to deal with a problem of this magnitude.
The investors are led by the New York and Ohio pension plans that held
shares of BP. The plaintiffs allege that BP made public statements about
commitment to safety while ignoring internal complaints, cutting staff,
and reducing budget resources.
The February, 2012, ruling will allow certain claims to go forward, but
it does not issue an opinion about whether plaintiffs will be able to
recover securities fraud damages against BP.
About Our Law Firm:
Meyer Wilson is the only Ohio investment fraud law firm that is exclusively
dedicated to individual investor claims and class action cases. Our securities
fraud attorneys have successfully represented investors throughout the
nation in securities arbitration, mediation, and litigation claims against
the stockbrokers, brokerage firms, and financial advisors who caused them
harm. All of our cases are handled on a contingency fee, and our investment
fraud lawyers do not request retainers of any kind.