ERISA Stock-Drop Case Against BP Fiduciaries Is Dismissed

HOUSTON - Participants in BP's retirement plans failed to overcome the presumption that the plans' investment in company stock was prudent, even after the Deepwater Horizon explosion and uncontained oil spill, a federal judge in Texas ruled March 30 in dismissing the participants' breach...

Shareholders Pleaded Material Misrepresentations In Securities Suit, Judge Rules

NEW YORK - Lead plaintiffs in a securities class action lawsuit against Transocean Ltd. and others have properly pleaded material misrepresentations in making the federal securities law claims against the defendants for alleged misrepresentations made in connection with a merger between an oil and gas...

Judge Accepts BP's Guilty Pleas, Agreement To Pay $4.5B In Penalties

NEW ORLEANS - A federal judge in Louisiana on Jan. 29 approved BP Exploration & Production Inc.'s offer to plead guilty to 11 counts of manslaughter and pay $4.5 billion in criminal penalties for its role in the explosion of the Deepwater Horizon oil rig on April 20, 2010, and ensuing oil spill...

Judge Trims Federal Securities Claims In BP Oil Spill Shareholder MDL

HOUSTON - A federal judge in Texas on Feb. 6 granted in part and denied in part a motion to dismiss filed by BP PLC and certain of its subsidiaries and former executive officers, ruling that although shareholders have failed to plead scienter against one of the defendants, they have properly pleaded...

Judge Substantially Dismisses Securities Claims In BP Oil Spill Lawsuit

HOUSTON - In an opinion made available on Oct. 7, a federal judge in New York significantly trimmed the claims in a securities class action complaint filed by Ohio state pension funds against BP PLC., two of its subsidiaries and three former officers and directors, ruling that the pension funds had not...