BP

Part of BP investor case over Gulf spill dismissed

Reuters News
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Posted: Feb 13, 2012 3:49 PM
Part of BP investor case over Gulf spill dismissed

(Reuters) - BP Plc on Monday won the dismissal of part of a U.S. shareholder lawsuit seeking damages related to the 2010 Gulf of Mexico oil spill.

District Judge Keith Ellison in Houston dismissed claims by purchasers of ordinary shares, as well as claims by purchasers of American depositary shares against several BP officials, including current Chief Executive Robert Dudley.

The judge also refused to dismiss claims by the ADS investors against the London-based company and former Chief Executive Anthony Hayward, saying the investors had adequately pleaded violations of U.S. securities law.

(Reporting By Jonathan Stempel in New York; Editing by Richard Chang)

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