BP Lawsuit Rejected In US

A judge has rejected a recreational users lawsuit against BP plc (NYSE:BP).

BP Lawsuit Rejected In US

The US District Judge Carl Barbier has dismissed three categories of claims against BP plc (NYSE:BP) by recreational users.

Company-branded gas station owners and businesses had filed the claims alleging that the Gulf of Mexico oil spill has diminished their reputation and asked BP plc (NYSE:BP) to pay damages.

The judge ruled that US law does not compensate emotional, non-pecuniary damage.

Barbier said in the ruling, “Other claims for loss of non-commercial recreational expectations, such as a claim for loss of recreational use and enjoyment of a beachfront vacation home, are not viable under general maritime law”.

BP plc (NYSE:BP) shares were at 42.71 at the end of the last day’s trading. There’s been a 3.8% change in the stock price over the past 3 months.

BP plc (NYSE:BP) Analyst Advice
Consensus Opinion: Moderate Buy
Mean recommendation: Error
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: Error
Zack’s Rank: 6 out of 18 in the industry