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BP Settles Suit for $7.8 Billion

Trust will benefit people affected by spill

On Friday, British Petroleum agreed to a $7.8 billion settlement with some 100,000 people and businesses who sued in the aftermath of the 2010 Deepwater Horizon oil spill. If approved by a federal court in Louisiana, it would become the largest class-action settlement on record. BP will likely establish a trust to compensate fishermen, cleanup workers, and business owners. The settlement does not include forthcoming fines and environmental claims from the states and the federal government, which could total tens of billions of dollars.

Read more at the Washington Post

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Filed To: News