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LAWSUIT FILED AGAINST BP, SUIT SAYS BP MISLEAD INVESTORS

The New York State Controller has filed a lawsuit against British Petroleum for misleading investors about the response to the April 20 rig explosion and oil spill. Thomas DiNapoli, the sole trustee of the state pension fund, claims in the suit that the drop in company’s stock value over the explosion and response caused the fund to lose $30 million. The fund recently sold 1.5 million shares of the 19 million initially held.

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