Investors Sue BP Over Safety Claims

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

Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.


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.

MOTHER JONES NEEDS YOUR HELP

Straight to the point: Donations have been concerningly slow for our hugely important First $500,000 fundraising campaign. We urgently need your help, and a lot of help, over the next few weeks so we can pay for the one-of-a-kind journalism you get from us.

Learn more in “Less Dreading, More Doing,” where we lay out this wild moment and how we can keep charging hard for you. And please help if you can: $5, $50, or $500—every gift from every person truly matters right now.

payment methods

MOTHER JONES NEEDS YOUR HELP

Straight to the point: Donations have been concerningly slow for our hugely important First $500,000 fundraising campaign. We urgently need your help, and a lot of help, over the next few weeks so we can pay for the one-of-a-kind journalism you get from us.

Learn more in “Less Dreading, More Doing,” where we lay out this wild moment and how we can keep charging hard for you. And please help if you can: $5, $50, or $500—every gift from every person truly matters right now.

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