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BP Seeks Pension Fund Claims Dismissal

BP has asked a U.S. District Court judge to dismiss pension fund claims over its last year’s oil spill.

BP has asked a U.S. District Court judge to dismiss pension fund claims over its last year’s oil spill, Pensions & Investments reports. New York State Common Retirement Fund along with four Ohio public pension funds had claimed losses and is seeking recovery from BP and its directors and officers.

The four Ohio plans in the lawsuit are the Ohio Public Employees Retirement System, Ohio State Teachers’ Retirement System, Ohio Police & Fire Pension Fund and Ohio School Employees Retirement System. The shareholders have alleged that BP violated U.S. securities laws by misleading them before and after the spill.

Click here for the story from Pensions & Investments.

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