BP Investors Tell 5th Circ. To Keep Deepwater Suit In US

Law360, New York (May 10, 2012, 5:52 PM EDT) -- An investor asked the Fifth Circuit on Tuesday to resuscitate a derivative suit against BP PLC’s directors and officers over Deepwater Horizon spill-related stock drops, saying the suit should be tried in Houston — and not the U.K. — given the company’s ties to the U.S.

The City of New Orleans Employees’ Retirement System claims U.S. District Judge Keith P. Ellison should not have dismissed the case from multidistrict litigation in September, and that the Texas federal judge was wrong in concluding that the U.K. was the more...
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