Judge Tosses BP Fuel Dealers' Brand-Name Claims

NEW ORLEANS (AP) — A federal judge has dismissed claims by BP  (NYSE: BP  ) fuel dealers that the 2010 oil spill in the Gulf of Mexico diminished the value of the oil giant's brand and cost them business.

U.S. District Judge Carl Barbier's ruling Tuesday says the dealers' claims against BP aren't viable under the Oil Pollution Act of 1990, general maritime law or state law.

All claims by BP dealers are excluded from the company's proposed settlement of billions of dollars of claims by other businesses and individuals who blame the spill for economic damages.

Barbier also tossed out claims against BP by Gulf Coast homeowners who claim the spill hurt their property values even though no oil physically touched their property and they haven't sold their homes.

The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2040918, ~/Articles/ArticleHandler.aspx, 10/24/2014 7:36:17 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement