BP claims derivative suit should be heard in UK
BP has asked a Texas judge to dismiss a lawsuit filed by some institutional investors, claiming the UK High Court should hear the case.
Investors are suing BP's board and management, claiming that their relentless pursuit of cost-cutting came at the expense of safety measures that could have prevented the Deepwater Horizon oil spill that brought the company to its knees last year.
Defendants named in the court documents of the derivative litigation include former BP chief executive Tony Hayward,...
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