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Posts tagged "federal lawsuits"

BP faces additional lawsuits after Gulf oil spill

Businesses and pension holders from Massachusetts to California are watching the outcome of a particular federal lawsuit. BP, the company that made the news during the Gulf oil spill, now faces a lawsuit after it allegedly did not report safety issues to its New York City pension fund. The fund has filed a lawsuit for a minimum of $39 million in losses. The lawsuit, which was filed on April 17 in Manhattan, claims that the company misled investors. Parties involved in the business litigation include city employees, emergency personnel, teachers and police officers. The lawsuit claims that BP tried to minimize the damage and the resulting costs after the April 20, 2010, explosion killed 11 employees in the largest oil spill in American history.

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