Suiting Up 0
Bloomberg reports that the lawsuits against Buccaneer Petroleum are starting. I must admit that suing the board of directors under civil racketeering statutes is a creative touch (emphasis added):
Investors in three states, including Louisiana and Alaska, have sued BP’s board of directors for allegedly causing more than $50 billion in shareholder losses by failing to implement safety policies that would have prevented the spill. In a separate class-action lawsuit in Florida, the company is accused of “a pattern” of criminal acts including fraud. That suit seeks triple damages under federal civil racketeering law.
