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Anadarko Pays $12.5M To Settle Deepwater Horizon Suit

Law360, New York (May 19, 2014, 3:21 PM EDT) -- Anadarko Petroleum Corp. reached a $12.5 million settlement Friday in a proposed securities class action alleging the company deceived investors about its safety practices and liability exposure from the Deepwater Horizon accident.

U.S. District Judge Keith P. Ellison largely gutted the suit in July 2013 by eliminating nearly all of about 28 allegedly false and misleading statements Anadarko made to shareholders and market analysts before and after the accident about its connection with the Macondo well, ruling they were either irrelevant or too vague to support a securities...
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