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Ohio Sues BP For Pension Losses After Deepwater Spill
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The state of Ohio is suing BP.
Ohio Attorney General Mike DeWine says the 2010 Gulf Coast Oil Spill sent BP stocks tumbling, which hurt some state pensions. DeWine says BP falsely claimed to have adequate safety procedures in place.
“And as a result, people invested. In this case, pensioners of the state of Ohio bought stock and then lost money as a result of BP’s bad actions,” DeWine said.
DeWine could specify how much Ohio pensions lost as a result of the spill, but he said “we think it’s in the tens of millions of dollars.”
BP did not immediately respond to requests for comment.
Click the play button above to hear a longer discussion between DeWine and Statehouse correspondent Bill Cohen.