SOURCE: Izard Nobel LLP

June 23, 2010 17:25 ET

Izard Nobel LLP Announces Class Action Lawsuit Against BP p.l.c.

WEST HARTFORD, CT--(Marketwire - June 23, 2010) -  The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Eastern District of Louisiana on behalf of purchasers of the shares and/or American Depository Receipts ("ADRs") of BP p.l.c. ("BP" or the "Company") (NYSE: BP) between February 27, 2008 and May 12, 2010, inclusive (the "Class Period"). 

The Complaint charges that BP and certain of its subsidiaries, officers and directors violated federal securities laws. Specifically, the Complaint alleges that defendants issued false and misleading statements about safety, technology, inspections and precautions at its offshore oil facilities. At the time of the Gulf disaster, BP shares were trading at nearly $60, but since have lost approximately half of their value.

If you are a member of the class, you may, no later than July 20, 2010, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/bp/, or contact Izard Nobel LLP toll-free: (800) 797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com.

Contact Information