Anadarko Faces Investor Class Action Over Gulf Spill

Law360, New York (June 25, 2010, 2:18 PM EDT) -- Anadarko Petroleum Corp. is facing a shareholder class action alleging the company deceived investors about the safety of the Deepwater Horizon well and downplayed its potential liability in the days after the fatal rig explosion and oil spill.

The complaint, lodged Wednesday in the U.S. District Court for the Southern District of New York, claims Anadarko, 25 percent owner of the ruptured well, disregarded BP PLC’s “egregious” safety violations at the site while touting its own risk management and environmental safeguards, inflating the stock price....
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