BP To Pay $19M To End Gas Royalties Class Action

Law360, New York (July 31, 2012, 9:14 PM EDT) -- BP America Production Co. on Monday agreed to pay $19 million to settle a class action brought by owners of gas lease royalites seeking contractual payments, six months after a Kansas federal judge refused to let the oil giant escape the lawsuit.

Although BP continues to deny the allegations, it agreed with the class that a deal would be preferable to further litigation, which they said would be costly.

“The parties desire to enter into this settlement agreement in order to (1) avoid further expense, inconvenience,...
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