BP (NYSE:BP): Closing price $42.20
On Friday, New York City revealed that it has sued BP for over $39 million of losses it claims that beneficiaries of the city’s pension funds sustained because of the oil major’s “misconduct and fraudulent behavior” connected with the 2010 Deepwater Horizon oil spill. Comptroller John Liu said that ”BP failed to disclose to shareowners the serious risks involved in its offshore drilling operation. After the spill began, it misleadingly attempted to minimize the extent of the damage and the cost to shareowners.”
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