Case Study

In re BP p.l.c. Securities Litigation—June 2016 Ruling

In re BP p.l.c. Securities Litigation—June 2016 Ruling

U.S. District Court Judge Keith P. Ellison ruled on pending motions for summary judgment, granting numerous elements of the defendants’ motion and denying the plaintiffs’ motion in its entirety. Retained by Sullivan & Cromwell Judge Keith P. Ellison of the U.S. District Court for the Southern District of Texas ruled on pending motions for summary judgment in In re BP p.l.c. Securities Litigation, granting numerous elements of the defendants’ motion and denying the plaintiffs’ motion in its entirety. The case arose from plaintiffs’ allegations that BP misled investors about its safety procedures and ability to respond to and contain an oil spill following the Deepwater Horizon explosion in April 2010. This allegedly resulted in declines of BP’s ADS price corresponding to a $91 billion marke

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