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U.S. Supreme Court rejects appeal in shareholder suit against BP

Mon, 02nd May 2016 13:37

WASHINGTON, May 2 (Reuters) - The U.S. Supreme Court onMonday declined a request from shareholders seeking to revivetheir class action lawsuit against BP claiming theBritish oil company misrepresented its safety procedures priorto the 2010 Gulf of Mexico oil spill.

The court left in place a September 2015 ruling by the NewOrleans-based 5th U.S. Circuit Court of Appeals that refused tocertify the lawsuit filed by investors who bought shares in the2-1/2 years before the spill. BP's share price plummeted afterthe disaster that has cost the company more than $55 billion. (Reporting by Lawrence Hurley; Editing by Will Dunham)

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