Ninth Circuit revives shareholder lawsuit against BP Alaska

[JURIST] The US Court of Appeals for the Ninth Circuit [official website] issued an opinion [ruling, PDF] on Thursday reinstating a shareholder class-action lawsuit against BP Alaska [corporate website] for securities fraud after the case had been dismissed by a lower federal court. The case had been dismissed for inadequate pleading in the lower court. On appeal, the Ninth Circuit found that plaintiffs had adequately pleaded some, but not all of their claims. The complaint stems from a 2006 oil...

Source: http://jurist.org/paperchase/2014/02/ninth-circuit-revives-shareholder-lawsuit-against-bp-alaska.php

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