Shareholders win right to sue BP over 2006 oil spill

Charge that poor handling of the situation made their stake less valuable

BP is not unfamiliar with the business end of a lawsuit, but recently settlement figures and court hearings have been related to the massive oil spill it was party to in 2010. Adding more trouble to those legal woes is the go ahead from a district court that will allow shareholders to hold the oil giant culpable to another spill that occurred in 2006.

The 9th U.S. Circuit Court of Appeals in San Francisco ruled that some shareholders would be allowed to move forward with securities fraud cases against BP, after a previous judge ruled that they could not do so.

Executive Editor

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Chris DiMarco

Chris DiMarco, Executive Editor of InsideCounsel magazine, has a background in multimedia production with previous involvement in projects in which he developed and created content...

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