Comcast Ruling Blocks Class Cert. In BP Securities Suit

Law360, New York (December 6, 2013, 5:58 PM EST) -- A Texas federal judge denied class certification for investors facing losses in the aftermath of BP PLC's Deepwater Horizon rig explosion in 2010, after determining Friday that the investors' damages calculation was too murky to earn certification in light of a recently bolstered standard from the U.S. Supreme Court.

U.S. District Judge Keith P. Ellison ruled that the event study used to calculate the damages the investors — led by Robert Ludlow along with pension funds in New York and Ohio — proposed was not sufficient...
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