Lawsuit Targets Reckless Corporate Conduct

The Australian reports that a class action lawsuit against petrol company British Petroleum (BP) has revealed a corporate culture “in which safety protocols and environmental laws were ignored in favour of profits”. Reportedly, BP intentionally undermined the gravity of the Deepwater Horizon rig explosion, “the worst offshore oil spill in US history”, which lead to shareholders suffering enormous losses as shares dropped “by about 40%”. Litigants are reportedly seeking compensation for the investment losses.
The Australian: Lawsuit puts BP corporate culture in spotlight (30 December 2010)
(Source: The Australian)