5th Circuit Upholds Dismissal Of Shareholder Derivative Suit Against BP

5th Circuit Upholds Dismissal Of Shareholder Derivative Suit Against BP

NEW ORLEANS - A Fifth Circuit U.S. Court of Appeals panel on Jan. 17 affirmed the dismissal of a shareholder derivative lawsuit brought on behalf of BP PLC on the ground of forum non conveniens, finding that the defendants stipulated to the jurisdiction of the English courts and that the federal judge presiding over the case properly considered both private and public interests (New Orleans Employees' Retirement System v. Anthony B. Hayward, et al., No. 12-20019, 5th Cir.).

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