BP to pay $175 mn for downplaying 2010 oil spill
BP, formerly British Petroleum, has agreed to pay $175 million to shareholders who brought a class-action lawsuit against the company for understating the severity of the 2010 oil spill in the Gulf of Mexico. In separate legal action, a US court had in April approved BP’s $18.7 billion penalty for the oil spill, the largest environmental settlement in US history.