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Lawsuit spooks BP investors

Oil major BP was the biggest faller on Britain’s blue-chip board on Thursday, as investors fretted that a U.S. government lawsuit might mean the cost of its oil spill will be far higher than predicted.

LONDON – Oil major BP was the biggest faller on Britain’s blue-chip board on Thursday, as investors fretted that a U.S. government lawsuit might mean the cost of its oil spill will be far higher than predicted.

Legal experts have said BP’s $40 billion estimate for the total cost of the oil spill — hitherto largely accepted by financial analysts — could double if the U.S. government managed to convince a court that BP had been grossly negligent.

 
 
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