Pension schemes sue BP over fraud and negligence

Pension schemes sue BP over fraud and negligence


Pension schemes and asset managers from within the UK and Europe are suing BP in the U.S. court of Texas over alleged fraud and negligence before, during and after the Deepwater Horizon oil spill.

When in April 2010 an explosion hit a drilling oil rig 11 men died, but nobody watching the news at the time could possibly envisage that this was also the beginning of the worst ever offshore spill in the history of the U.S. and an environmental disaster which ensured BP’s stock price would be halved within the space of a few weeks.

Now, more than two years later, the case is back in the news as institutional investors claim BP lied to them about its safety first culture in the years leading up to the spill. The claimants say BP is therefore responsible for the loss of “an amount to be proved at trial”, believed to be in the tens of millions of pounds.

On behalf of six investors, including the South Yorkshire pension fund, Skandia Global Funds and GAM fund management, lawyers filed a claim for common law fraud, negligent misrepresentation and statutory fraud in the Texas. The investors state that they would not have bought the shares in BP at the price they paid if they had “known the truth”.

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Stew Webb 35 Years a Federal Whistle blower
Stew Webb served in the United States Marine Corps and was Honorable Discharge. Stew was a General Contractor-Home Builder until 3 car crashes in one year and is now disabled. Stew turned Federal Whistle blower – Activist of 31 years and has been a guest on over 3,000 Radio and TV Programs since September 18, 1991 and now has his own Radio and TV Network Stew was responsible for the Congressional Investigations and hearings that lead to the Appointment of Independent Prosecutor Arlin Adams in the 1989 HUD Hearings, the Silverado Savings and Loan Hearings, the Denver International Airport Frauds hearings, the MDC Holdings, Inc. (MDC-NYSE) Illegal Political Campaign Money Laundering Colorado’s biggest case aka Keating 5 hearings and the information provided that lead to the 2008 Illegal Bank Bailout.
Stew was held as a Political Prisoner from 1992-1993 to silence his exposure by Leonard Millman his former in law with illegal charges of threatening harassing telephone calls charges which were dismissed with prejudice. Leonard Millman, George HW Bush, George W Bush, Jeb Bush, Neil Bush, Bill Clinton, Hillary Clinton, Larry Mizel, Phil Winn, Norman Brownstein, John McCain and Mitt Romney to name a few are all partners in what is known as the Bush-Millman-Clinton Organized Crime Syndicate. Leonard Millman (Deceased 2004) was member of the “Illuminati Council of 13”