BP Knocks Out Fraud Suit Over $42M Gas Station Sales

Law360, New York (May 2, 2012, 7:39 PM EDT) -- BP Products North America Inc. on Wednesday defeated a lawsuit in Illinois accusing the company of breaching franchise agreements and defrauding several franchisees when it sold them 17 gas stations and convenience stores for $42 million.

Joliet Petroleum LLC, RWJ Management Co. Inc. and several affiliates claimed in Illinois state court that BP misrepresented the profitability of the gas stations it sold. Though BP disclosed the high volumes of fuel sold at the stations, the oil giant held back its fuel margin, a common measure of...
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