Shareholder sues BP Executives over Gulf Oil Catastrophe
Accused BP executives named in lawsuit by Pennsylvania shareholder.
....accuses them of pursuing cost-cutting measures at the expense of safety, while lobbying government authorities to decrease safety regulation. The lawsuit says the rig accident and the leak it caused will cost BP tens of billions of dollars.
The suit is a "shareholder derivative" suit, meaning it was filed by a shareholder on the company's behalf. Among other things, the lawsuit seeks court-ordered changes in BP's corporate governance, and an order that the executives pay monetary damages.
Executives to be held responsible for ignoring safety standards and making merely 'cosmetic changes' in the past.
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Burnaby, British Columbia, Canada