BP p l c (ADS) (NYSE: BP) Investor Securities Class Action Lawsuit 05/21/2010

If you purchased American Depositary Shares (ADS) of BP p l c (NYSE: BP), you might have certain options and should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
BP
Case Name: 
BP Shareholder Class Action Lawsuit 05/21/2010
Case Status: 
Lawsuit Filed
Case Status: 
Settlement Proposed
Affected Securities
NYSE: BP
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
05/21/2010
Class Period Begin: 
04/26/2010
Class Period End: 
05/28/2010
Court of Filing: 
U.S. District Court for the Southern District of Texas
Deadline To File for Lead: 
07/20/2010
Date Settled: 
11/04/2016
Settlement Amount: 
$175,000,000
Deadline to Participate in Settlement: 
04/01/2017
Settlement Notice: 
Settlement Proof: 
Summary: 

November 4, 2016 - The court preliminarily approved the settlement.

September 15, 2016 - Parties filed a stipulation of settlement.

January 19, 2016 - The lead plaintiff filed an amended complaint.

January 4, 2016 - The court granted defendants' motion to dismiss and dismissed claims without prejudice. The court grants plaintiffs 15 days to replead.

June 16, 2015 - The defendants filed a motion to dismiss.

June 2, 2015 - The U.S. Court of Appeals for the Fifth Circuit affirmed the decision of the district court.

March 10, 2015 - The U.S. Court of Appeals for the Fifth Circuit ordered the cross appeal dismissed for one defendant only, the other parties remain under the main appeal.

October 2, 2014 - The U.S. Court of Appeals for the Fifth Circuit granted defendant's appeal and motion to consolidate cases.

September 30, 2014 - The court granted in part and denied in part the defendants motions to dismiss.

July 24, 2014 - The lead plaintiffs filed a third amended complaint.

July 22, 2014 - The defendants filed a motion to dismiss.

July 18, 2014 - The defendants filed a notice of appeal.

June 9, 2014 - The lead plaintiffs filed a second amended complaint.

May 20, 2014 - The court denied the plaintiffs' renewed motion for class certification and granted plaintiffs' leave to file an amended complaint.

December 6, 2013 - The court denied the plaintiffs' motion for class certification.

June 4, 2013 - Another amended complaint was filed by several investors.

March 8 and 11, 2013 - The court dismissed all claims of certain defendants.

February 11, 2013 - The U.S. Court of Appeals for the Fifth Circuit affirmed the judgement of the U.S. District Court.

February 6, 2013 - The court granted in part and denied in part the motion to dismiss from May 3, 2012.

December 21, 2012 - The defendants filed another motion to dismiss.

December 6, 2012 - An investor filed a third amended complaint.

October 23, 2012 - Another investor filed a second amended complaint.

October 19, 2012 - An investor filed a second amended complaint.

October 9, 2012 - The defendants filed a motion to dismiss the first amended complaint.

September 26, 2012 - An investor filed a corrected amended complaint.

August 10, 2012 - An investor filed a first amended complaint.

August 8, 2012 - The court granted the motion for leave to file another amended complaint.

August 7, 2012 - An investor filed a motion for leave to file another amended complaint.

July 5, 2012 - The court granted another of the Defendants' motion to dismiss.

May 3, 2012 - The defendants filed a correction of the motion to dismiss.

May 2, 2012 - The defendants filed another motion to dismiss.

March 30, 2012 - The court granted another of the defendants' motion to dismiss.

February 13, 2012 - The court granted one of the defendants' motion to dismiss and partially granted another of the Defendants' motion to dismiss.

January 3, 2012 - The plaintiff filed a notice of appeal against that final judgement.

December 8, 2011 - The court entered a final judgement and closed one case.

September 20, 2011 - The defendants filed a motion to dismiss.

September 15, 2011 - The court granted defendants' motion to dismiss the first filed amended consolidated complaint.

July 26, 2011 - The defendants filed another motion to dismiss.

May 27, 2011 - Another investor filed an amended consolidated complaint.

May 6, 2011 - The defendants filed another motion to dismiss.

March 21, 2011 - The defendants filed a motion to dismiss.

February 14, 2011 - Another investor filed an amended complaint.

February 11, 2011 - Another investor filed an amended consolidated complaint.

February 4, 2011 - An investor field an amended consolidated complaint.

November 30, 2010 - Additional cases were consolidated.

October 12, 2010 - Lead counsel was appointed.

October 1, 2010 - Lead plaintiff motions were filed.

August 10, 2010 - Claims from the U.S. District Court for the Central District of California and the Western District of Louisiana were transferred to U.S. District Court for the Southern District of Texas for consolidation.

July 19, 2010 - Another investor filed a complaint.

June 30, 2010 - Another investor filed a complaint.

June 2, 2010 - Another investor filed a complaint.

May 21, 2010 - An investor in American Depositary Shares (ADS) of BP p l c (NYSE: BP) filed a lawsuit in the U.S. District Court for the Western District of Louisiana against BP p l c over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between March 4, 2009 and April 20, 2010.

The Complaint alleges that BP p l c and certain of its officers and directors made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Exchange Act regarding its safety and risk management practices, including those relating to its extensive operations in the Gulf of Mexico. The complaint alleges that, contrary to BP p l c’s assurances to investors, BP p l c disregarded repeated warnings concerning its drilling operations, failed to implement appropriate safety or risk management practices, rendering it highly exposed in the event of an accident or other operational failure. The complaint further alleges that, in the months leading up to the Deepwater Horizon disaster, BP p l c knew about and failed to correct breaches of safety protocols. The complaint alleges that BP p l c’s true practices were revealed on and after April 20, 2010, in the aftermath of the Deepwater Horizon disaster, and that, as a result, the price of BP p l c's ADS dropped approximately 20% on extremely heavy volume.