BP Asks 5th Circ. To Reconsider Deepwater Settlement Ruling

Law360, Los Angeles (January 21, 2014, 8:11 PM EST) -- BP PLC on Tuesday urged the Fifth Circuit to reconsider its ruling affirming a decision approving the energy giant's multibillion-dollar settlement of claims for lost business tied to the Deepwater Horizon disaster, arguing the appellate court's opinion directly conflicts with precedent governing Rule 23 class certification.

BP asked the Fifth Circuit to rehear en banc a three-judge panel's 2-1 ruling, issued Jan. 10, that upheld U.S. District Judge Carl Barbier's December 2012 decision approving the $9.2 billion settlement and certifying the economic and property damages settlement...
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