A federal judge on May 2, 2012, preliminarily approved a proposed class action settlement that would resolve billions of dollars in claims against BP over the 2010 oil spill in the Gulf of Mexico.
U.S. District Judge Carl Barbier’s ruling set a “fairness hearing” on November 8, 2012, to decide whether to give his final approval to the deal between London-based BP PLC and a team of plaintiffs’ attorneys.
The proposed settlement doesn’t have a cap, but BP estimates it will pay about $7.8 billion to resolve more than 100,000 claims by people and businesses who blame the spill for economic losses. Continue reading “BP oil spill class action settlement gets preliminary approval”