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Maryland Suing BP For Stock Losses

April 23rd, 2014 by WCBC Radio

Four years after the oil spill in the Gulf of Mexico, the State of Maryland is suing BP for stock losses related to the spill. Maryland Attorney General Doug Gansler told WBAL News that the state's employee pension fund lost $15-million, because the company made "false and misleading statements," to officials noting that the company had taken steps to prevent spills like the one in 2010. Gansler, who is a Democratic candidate for governor file the lawsuit this week in U.S. District Court in Southern Texas. He says the state had to wait several years before filing the suit, so that the courts can hear other liability suits related to the explosion and spill that killed 11 people, and spilled 210-million gallons of oil. Maryland is the first state to file such a suit, but Gansler says that he expects other states to either join Maryland's suit, or file lawsuits of their own…


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