U.S. Supreme Court Declines Review Of Securities Suit Class Certification Ruling

Mealey's (May 2, 2016, 4:00 PM EDT) -- WASHINGTON, D.C. — The U.S. Supreme Court on May 2 declined review of a Fifth Circuit U.S. Court of Appeals decision affirming a federal district court’s ruling that denied a motion for class certification in a securities class action lawsuit based upon the damages methodology used (Robert Ludlow, et al. v. BP PLC, No. 15-952, U.S. Sup.).

Lead plaintiffs New York Comptroller Thomas P. DiNapoli, a group of Ohio pension funds and four individuals (the Ludlow plaintiffs) sued BP, former CEO Anthony Hayward, former Chief Operating...
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