BP Misled NYC Pensions On Deepwater Spill, $39M Suit Says

Law360, New York (April 26, 2013, 3:55 PM EDT) -- New York City on Friday sued BP PLC for $39 million to cover losses city pension funds, which held BP stock, allegedly suffered because the oil giant issued fraudulent statements about its drilling practices and the extent of the Deepwater Horizon disaster.

City Comptroller and New York City mayoral candidate John Liu filed the complaint earlier this month as the pension fund trustee for the city's police, firefighters, teachers and other city employees. Liu argues that BP's officers and directors hid critical facts about the dangers...
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Case Information

Case Title

New York City Employees' Retirement System et al v. BP p.l.c. et al


Case Number

1:13-cv-02551

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Andrew L. Carter, Jr

Date Filed

April 17, 2013

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