BP Escapes ERISA Suit Over Deepwater Spill

Law360, New York (September 6, 2012, 3:29 PM EDT) -- A Texas federal judge on Tuesday closed the book on consolidated litigation over allegations that BP PLC sank employee retirement funds by overinvesting in company stock before the Deepwater Horizon oil spill, ordering the final dismissal of the case.

U.S. District Judge Keith P. Ellison formally ended the case one week after he refused to allow the plaintiffs in the class action — tens of thousands of BP retirement plan participants nationwide — to file an amended complaint correcting the deficiencies in their suit.

The plan...
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