BP PLC (BP) lost a court bid to dismiss investors' fraud claims over the 2010 Gulf of Mexico oil spill, Bloomberg News reported Tuesday.
BP PLC (BP) lost a court bid to dismiss investors' fraud claims over the
2010
Gulf of Mexico
oil spill, Bloomberg News reported Tuesday.
U.S. District Judge Keith P. Ellison in
Houston
allowed holders of BP American depositary receipts to pursue claims alleging
violations of
U.S.
securities law, the report said.
It said he rejected investors' claim that BP lied about its safety commitment,
while finding it might have exaggerated its ability to respond to a spill.
"Plaintiffs have sufficiently pleaded facts to demonstrate that BP
misrepresented the size of the spill it was prepared to respond to in the Gulf
and misrepresented the company's general spill response capabilities," the
report quoted Ellison as saying in a decision.
Scott Dean, BP spokesman, declined to comment on the ruling, according to the
report, which said the company had earlier denied fraud or any lack of
attention to safety.
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