Judge OKs Settlement in BP Class-Action Suit
A federal judge signed off on BP’s settlement with businesses and people hard hit by the 2010 oil spill in the Gulf of Mexico.
U.S. District Judge Carl Barbier in New Orleans issued a 125-page ruling Friday night on a class-action suit. He gave the settlement preliminary approval in May and overruled questions and criticism of the agreement in his Friday ruling.
“None of the objections, whether filed on the objections docket or elsewhere, have shown the settlement to be anything other than fair, reasonable, and adequate,” the ruling said. “The low numbers of objections and opt-outs are evidence of the settlement’s fairness.”
BP has estimated a settlement of about $7.8 billion paid from a $20 billion trust. Thousands of businesses and individuals made claims in Louisiana, Mississippi, Alabama, some coastal counties in eastern Texas and western Florida and adjacent Gulf waters and bays.