BP Tells 5th Circ. Deepwater Stock Drop Suit Belongs In UK

Law360, New York (July 10, 2012, 7:55 PM EDT) -- BP PLC on Monday urged the Fifth Circuit to deny a bid by an investor to revive a derivative suit against the oil and gas giant over Deepwater Horizon spill-related stock drops, arguing that the case should be tried in the U.K., not the U.S.

In a brief filed with the appeals court, BP argued that U.S. District Judge Keith P. Ellison correctly dismissed the case filed by the City of New Orleans Employees’ Retirement System from multidistrict litigation when he concluded that the U.K. was...
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