Oyster Fisheries Opt Out Of $8B BP Oil Spill Settlement

Law360, New York (November 2, 2012, 6:04 PM EDT) -- A group of Gulf Coast oyster fisheries on Thursday opted out of a $7.8 billion class action settlement of economic and medical claims arising from BP PLC's Deepwater Horizon oil spill and lodged a new suit against the oil giant in Louisiana federal court.

After submitting an exclusion request to extract itself from the pending settlement, which has come under fire from a number of critics since the agreement was reached in March, Pearl River Fisheries of Louisiana LLC, Bayou Carlin Fisheries Inc. and Bayou Caddy...
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