BPPLC has reached a settlement today with the Justice Department, in which thecompany will pay $4.5 billion and plead guilty to criminal misconduct chargesrelated to the Deepwater Horizon explosion.
According to a release from the company, BP will pay$4 billion to the Justice Department over the course of five years and $525million to the Securities and Exchange Commission over the course of threeyears. The penalty far exceeds the $1.3 billion fine Pfizer forked over in 2009for the false marketing of Bextra pain medication.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
