Deepwater Horizon Securities Suit Against Anadarko Slashed

Law360, Houston (July 15, 2013, 8:00 PM EDT) -- A Texas federal judge on Monday largely gutted a putative securities class action that alleges Anadarko Petroleum Corp. deceived investors about its safety practices and liability exposure before and after the Deepwater Horizon accident, citing a lack of evidentiary support.

U.S. District Judge Keith P. Ellison ruled that all but one of about 28 allegedly misleading statements Anadarko made to shareholders and market analysts about its connection with the Macondo well were either irrelevant or too vague to support a securities fraud suit.

Citing his earlier...
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