Wednesday, February 16, 2011

Lawsuit on behalf of BP investors cites resignation of BP Sr. VP Kevin Lacy over lax safety procedures-AP

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2/14/11, "BP official resigned months before rig explosion over safety issues, lawsuit says," AP, J. Lozano, nola.com

"A lawsuit filed Monday night claims a former BP official resigned months before the rig explosion that led to the worst oil spill in U.S. history because of
  • disagreements with the oil giant about its commitment to safety.

The amended lawsuit on behalf of BP investors was filed Monday evening in Houston federal court.

The suit says Kevin Lacy, BP's former senior vice president for drilling operations for the Gulf of Mexico, resigned because he believed the company

  • wasn't adequately committed to improving its safety protocols

in offshore drilling operations to the level of its industry peers.

  • The claims are part of a suit from last year that alleges

BP inflated its stock price by making false statements

  • about its safety practices before the Gulf of Mexico oil spill.

A BP spokesman declined to comment."


via Vladimir at RedState.com

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