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$363 Million Raised Through Sale of BP Oil Stock

$363 Million Raised Through Sale of BP Oil Stock September 6, 2010. By Charles Benson.
London, England British Petroleum recently sold a significant portion of BP oil stock, raising $363 million to help clean up the Gulf of Mexico oil spill.
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BP ERISA: What Effect Do These Lawsuits Have on Employee Benefits Plans?

BP ERISA: What Effect Do These Lawsuits Have on Employee Benefits Plans? August 31, 2010. By Heidi Turner.
Montgomery, AL Although the oil well may be drying up, legal fallout from the BP oil spill, including lawsuits regarding BP employee benefits, show no signs of slowing down. Lawsuits have been filed on behalf of participants in BP benefits plans, alleging their plan assets were invested in BP when it was not prudent to do so. Meanwhile, a number of lawsuits have been filed against BP concerning the Gulf of Mexico oil spill.
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BP Securities and BP Employee Plan Lawsuits Headed For Houston

BP Securities and BP Employee Plan Lawsuits Headed For Houston August 19, 2010. By Gordon Gibb.
Houston, TX While a host of consolidated BP lawsuits target the Gulf of Mexico oil spill, damage to property and loss of income and livelihood, another basket of lawsuits will likely be consolidated under a separate multidistrict litigation: those that represent investors and BP employees who have suffered losses in BP stock and employee benefits.
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Investors Seeking Assurances That BP Stock Losses Won't Happen Again

Investors Seeking Assurances That BP Stock Losses Won't Happen Again August 12, 2010. By Gordon Gibb.
Pittsburgh, PA The BP oil spill that has had such a devastating effect in so many areas—from the environment to BP benefits—has prompted funds managers representing a collection of major portfolios with a combined asset value of an astonishing $2.7 trillion, to seek verification from major players in the oil industry as to their emergency response and risk oversight plans.
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Hayward to Recieve $930,000 BP Pension

Hayward to Recieve $930,000 BP Pension August 5, 2010. By Charles Benson.
London, England The man who has been widely criticized for his handling of the Gulf of Mexico oil spill, Tony Hayward, will reportedly receive a BP pension worth $930,000 annually when he steps down as the oil company's chief executive.
Read [ Hayward to Recieve $930,000 BP Pension ]

BP ERISA: Was Company Stock a Prudent Investment?

BP ERISA: Was Company Stock a Prudent Investment? July 31, 2010. By Heidi Turner.
Miami, FL Managers of company benefits plans have a duty to act in the best interests of plan participants. Lawsuits filed recently, however, allege that plan fiduciaries failed to prudently invest the assets of BP employee benefits plans and violated ERISA (Employee Retirement Income Security Act) laws.
Read [ BP ERISA: Was Company Stock a Prudent Investment? ]

BP ERISA Class-Action Lawsuit Seeks Compensation for Pension Losses

BP ERISA Class-Action Lawsuit Seeks Compensation for Pension Losses July 21, 2010. By Gordon Gibb.
Chicago, IL Even though BP Oil appears to have sufficiently capped the gushing oil well in the Gulf of Mexico, the larger crisis is far from over. Individuals who work for the oil company and partake in BP employee benefits but share no direct responsibility for the decisions that led to the oil spill face a financial crisis that will extend far beyond the immediate environmental dangers.
Read [ BP ERISA Class-Action Lawsuit Seeks Compensation for Pension Losses ]

Gulf Oil Spill Impacts BP Employee Pension Plan

Gulf Oil Spill Impacts BP Employee Pension Plan July 13, 2010. By Charles Benson.
New Orleans, LA From fisherman to tourism operators, the oil spill in the Gulf of Mexico has affected the livelihood of many, but it also hurt a not-so-obvious group of people: individuals with BP ERISA plans.
Read [ Gulf Oil Spill Impacts BP Employee Pension Plan ]

BP Faces Stockholder and ERISA Lawsuits

BP Faces Stockholder and ERISA Lawsuits July 6, 2010. By Heidi Turner.
New York, NY BP faces lawsuits not only from those who suffered losses of income as a result of the Gulf of Mexico oil spill, but also from BP employees alleging that BP benefits plan fiduciaries violated the Employee Retirement Income Security Act (ERISA).
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BP Employees Sue Over Losses

BP Employees Sue Over Losses June 29, 2010. By Lucy Campbell.
New York, NY Members of the BP Plc employee savings plan are suing over financial losses resulting from the company's plummeting share price in the wake of the BP oil spill disaster.
Read [ BP Employees Sue Over Losses ]

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