BP Opposes Class Cert. In Deepwater Securities Suit

Law360, Houston (November 18, 2013, 10:13 PM EST) -- BP PLC urged a Texas federal judge Monday to deny class certification in multidistrict litigation over investment losses New York and Ohio public retirement funds allegedly suffered following the Deepwater Horizon disaster, saying the pensions’ method for calculating damages is flawed.

Richard C. Pepperman II of Sullivan & Cromwell LLP told U.S. District Judge Keith P. Ellison that the pensions and a separate group of individual investors led by Robert Ludlow have been unable to offer a formula for tying statements the company made before and...
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