Federal Judge Dismisses Securities Claims In BP Oil Spills Class Action

Federal Judge Dismisses Securities Claims In BP Oil Spills Class Action

SEATTLE - A federal judge in Washington on March 15 ruled that lead plaintiffs in a securities class action lawsuit against BP PLC, one of its subsidiaries and two former executive officers have failed to properly plead scienter in making their claims that the defendants misrepresented the extent of two Alaskan oil spills in violation of federal securities law (Claude A. Reese, et al. v. John Browne, et al., No. 08-1008, W.D. Wash.).

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