Investors Sue BP Over Safety Claims

<a href="http://www.flickr.com/photos/skytruth/4543311558/sizes/m/in/photostream/">SkyTruth</a>/Flickr

Get your news from a source that’s not owned and controlled by oligarchs. Sign up for the free Mother Jones Daily.


More than two years after a BP well gushed 4.9 million barrels of crude into the Gulf of Mexico, some of the company’s investors are suing the oil giant for fraud in a Texas court. The investors say BP lied to them about their safety, UPI reports:

Investment groups that bought BP shares on the London Stock Exchange filed a lawsuit in a Texas court under a state fraud law. They say BP made misleading claims about its commitment to safety.

“BP paid only lip service to … (safety) reforms, lacked any tools for dealing with oil disasters such as deep-water spills and continued to operate by sacrificing safety for savings,” the suit was quoted by British newspaper The Daily Telegraph as stating. “Indeed, BP’s reform failures led directly to the April 2010 disaster.”

“The investors claim that they would never have paid top dollar for the firm’s shares had they ‘known the truth,'” reports the UK publication Management Today.

BEFORE YOU CLICK AWAY...

Trump is clamping down on the media—using lawsuits, lies, intimidation, and a thuggish Federal Communications Commission. Corporate media are caving, but Mother Jones won’t back down. To help us stand strong, a generous board member has chipped in a $50,000 digital matching gift. Help us make the most of it!

Every contribution through September 30 will be matched dollar-for-dollar.

We have nearly 50 years of experience standing up to bullies. Government intimidation, nuisance lawsuits, threats to our nonprofit status—we’ve seen it all. Yet because we’re supported by a community of readers like you, we’re still here and still reporting like hell. Please stand with us. Every dollar you give will go twice as far.

payment methods

BEFORE YOU CLICK AWAY...

Trump is clamping down on the media—using lawsuits, lies, intimidation, and a thuggish Federal Communications Commission. Corporate media are caving, but Mother Jones won’t back down. To help us stand strong, a generous board member has chipped in a $50,000 digital matching gift. Help us make the most of it!

Every contribution through September 30 will be matched dollar-for-dollar.

We have nearly 50 years of experience standing up to bullies. Government intimidation, nuisance lawsuits, threats to our nonprofit status—we’ve seen it all. Yet because we’re supported by a community of readers like you, we’re still here and still reporting like hell. Please stand with us. Every dollar you give will go twice as far.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate