5th Circ. Backs BP Execs' Dismissal From Securities MDL

Law360, Los Angeles (January 17, 2013, 8:20 PM EST) -- The Fifth Circuit on Wednesday affirmed a lower court's dismissal of shareholder derivative claims against BP PLC officers in a massive securities multidistrict litigation against the British oil company stemming from the Deepwater Horizon disaster, agreeing that an American jury shouldn't have to interpret English law.

The appeals court held that a Texas judge correctly had dismissed shareholder claims on forum nonconveniens grounds brought by the City of New Orleans Employees' Retirement System, saying the court ruled reasonably after considering forum availability, forum choice, ease of...
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