BP Fights Investors' Class Cert. Bid In Deepwater Row

Law360, New York (August 15, 2013, 3:37 PM EDT) -- BP PLC and its former CEO Tony Hayward on Thursday urged a Texas federal court not to certify two proposed classes of investors facing losses after the British oil giant and its executives allegedly overstated their disaster readiness ahead of the 2010 Deepwater Horizon explosion.

The proposed classes cannot be certified because they include representatives who have sold more BP shares than they bought and don’t sufficiently represent other proposed class members, according to the opposition to the plaintiffs’ class certification motion. The motion was filed...
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