Texas Joins Other Gulf States, Hits BP With Deepwater Suit

Law360, New York (May 17, 2013, 7:12 PM EDT) -- Texas became the fifth state to take BP PLC to court over the massive Deepwater Horizon oil spill, lodging an enforcement action against the company Friday demanding civil penalties and economic damages caused by the estimated 4.9 million barrels of oil released into the Gulf of Mexico.

The state decided to file the complaint after failing to resolve claims with the oil giant during the three years since the incident, which Texas says damaged critical natural resources and led to a significant reduction in tax revenue....
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.