BP agrees to pay $175 million to Settle Claims with Shareholders

September 12, 2017
By: Kathy VanderVeur

In June 2016, BP Plc agreed to pay $175 million to shareholders who brought a class-action lawsuit that accused the oil company of misleading them by understating the severity of the 2010 oil spill in the Gulf of Mexico. The rig explosion on April 20, 2010, the worst offshore oil disaster in U.S. history, killed 11 workers and spewed millions of barrels of oil onto the shorelines of several states for nearly three months. BP said the claims will be paid during 2016-2017.

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