How does one approach justice for compensation due, if the Supreme Court denies the right in which to do it in?
The company’s shares more than halved – wiping billions of pounds off the value of the group – in the wake of the April 2010 disaster, which killed 11 men and caused the worst offshore spill in US history.
Six investors who bought shares in BP in London prior to the accident or in its immediate aftermath claim that they would not have done so at the price they did “had they known the truth”. They include the South Yorkshire Pensions Authority, Skandia Global Funds and GAM Fund Management.
The funds allege that they lost “substantial sums as a result of BP’s misleading statements”, and are suing under Texas law for common law fraud and negligent misrepresentation, and for statutory fraud. The US Supreme Court blocked foreign investors seeking damages in federal courts.
The claimants are seeking damages “in an amount to be proved at trial” but
