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New York State Comptroller Thomas DiNapoli says a class-action lawsuit against BP has "a ways to go" before it reaches a conclusion.
The New York State Common Retirement Fund is a lead plaintiff in a class-action lawsuit against BP over allegedly poor safety practices exposed by the Deepwater Horizon disaster.
"And very often what happens is the suit will. spark a negotiation of some kind of a settlement. That's also a possibility," DiNapoli says.
The state comptroller spoke March 17 at the State Office Building in downtown Syracuse.
DiNapoli, as sole trustee of the fund, announced Dec. 29 he was co-leading the class with then-Ohio Attorney General Richard Cordray, who represented four public pension funds in Ohio. (Cordray is now head of enforcement at the new federal Consumer Financial Protection Bureau.)
The states are suing London-based BP, p.l.c. (NYSE: BP), owner of the Deepwater Horizon rig in the Gulf of Mexico. The drilling platform was destroyed in...