BP Faces Securities Probe Over Gulf Spill

Law360, New York (July 27, 2010, 2:45 PM EDT) -- BP PLC is under investigation by the U.S. Department of Justice and the Securities and Exchange Commission for possible securities violations in relation to the Deepwater Horizon disaster, the oil giant revealed Tuesday along with a shake-up in its leadership.

The company said in a financial report that the DOJ and the SEC had launched “informal inquiries into securities matters arising in relation to the incident.”

No other information was released, and neither the DOJ or BP immediately responded Tuesday to requests for details. The SEC,...
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