Ohio, New York Public Pensioners File Securities Action Against BP

HOUSTON, Texas - Public pension overseers in Ohio and New York have filed a class action against BP PLC over the drop in share prices resulting from the Deepwater Horizon explosion and oil leak, contending that the explosion resulted from company policies rather than accidental mishaps. In re BP Plc Securities Litigation, No. 4:10-md-02185 (S.D. Texas).

New York Comptroller Thomas P. DiNapoli and Ohio Attorney General Mike DeWine filed the joint, 182-page complaint on Feb. 14 in the consolidated securities case against BP in the U.S. District Court for the Southern District of Texas.

After reviewing the events that led …