NY Pension Fund Seeks Lead In BP Securities Actions

Law360, New York (June 23, 2010, 7:51 PM EDT) -- New York State Comptroller Thomas DiNapoli said Wednesday that his office would seek lead plaintiff status on behalf of the $132.6 billion New York State Common Retirement Fund in consolidated litigation accusing BP PLC of misleading investors about its safety record and ability to contain the ongoing Gulf oil spill.

The fund is eyeing four class actions — three in Louisiana and one in California — filed by individual or small investors that it believes will be joined, and hopes to take over a lead plaintiff...
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