Published April 26, 2013
NEW YORK – New York City said on Friday that it sued BP Plc for over $39 million of losses it claims beneficiaries of the city's pension funds suffered due to BP's "misconduct and fraudulent behavior" linked to the 2010 Deepwater Horizon oil spill.
"BP failed to disclose to shareowners the serious risks involved in its offshore drilling operation," Comptroller John Liu said. "After the spill began, it misleadingly attempted to minimize the extent of the damage and the cost to shareowners."
(Reporting by Edward Krudy; Editing by Vicki Allen)