Oil Producers Sue Goldman, BP Units For Fraud

Law360, New York (May 17, 2010, 6:45 PM EDT) -- A Goldman Sachs Group Inc. subsidiary and a BP PLC unit have been accused of conspiring with SemGroup LP to acquire millions of dollars worth of SemGroup's oil and gas as it spiraled toward bankruptcy in 2008, a scheme that allegedly left the original producers of the oil and gas without full payment.

A slew of independent producers filed complaints against Goldman unit J. Aron & Co., BP Oil Supply Co., ConocoPhillips Co., Plains Marketing GP Inc. and Plains Marketing LP in state courts in Oklahoma's...
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