5th Circ. Upholds BP's $9B Deepwater Settlement

Law360, Los Angeles (January 10, 2014, 11:45 PM EST) -- The Fifth Circuit on Friday upheld a district court’s order and judgment approving BP PLC's multibillion-dollar settlement of claims for lost business tied to the Deepwater Horizon disaster, saying a lower court judge didn't need to determine whether some eligible class members lacked an injury caused by the spill. 

In a 2-1 ruling, a three-judge panel upheld U.S. District Judge Carl Barbier's December 2012 decision approving the $9.2 billion settlement and certifying the economic and property damages settlement class, rejecting arguments by BP and some class...
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