La. AG Calls Foul On $7.8B Deepwater Settlement

Law360, New York (September 11, 2012, 7:54 PM EDT) -- Louisiana’s attorney general has objected to a proposed $7.8 billion settlement between BP PLC and most private plaintiffs in the Deepwater Horizon oil spill multidistrict litigation, calling the settlement unfair and claiming BP has overstated the Gulf Coast’s environmental recovery.

In a motion filed Friday, Louisiana Attorney General Buddy Caldwell urged the judge overseeing the case to reject the proposed settlement, arguing it was premised on misleading statements about the health of gulf ecosystems and would likely fail to fully compensate victims.

BP and the plaintiffs’...
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