BP Settles Suit Over Pension Plan Interest Rates

Law360, New York (November 15, 2010, 5:09 PM EST) -- BP North America Inc. has buried the hatchet in a lawsuit brought by a group of retirees who claimed the energy giant used illegal interest rates in pension plan conversions.

Judge David L. Bunning of the U.S. District Court for the Eastern District of Kentucky signed off Friday on a stipulation by the parties dismissing the case with prejudice.

According to the stipulation, the matter has been resolved “to the mutual satisfaction of the parties.” No further details were given, and attorneys representing both sides did...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.