Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
BP shareholders lawsuit
Old 07-14-2018, 01:56 PM   #1
Recycles dryer sheets
Newventurer's Avatar
 
Join Date: Sep 2012
Location: in the sticks
Posts: 390
BP shareholders lawsuit

Seems like forever ago I received notice that there was a class action lawsuit by shareholders over misrepresentations BP is alleged to have made regarding the amount of oil leaking from the deep water well.

I was in the class and received a number of notifications and the final request for documentation that was a bit brutal and final. If you messed up the documentation you were not allowed a second chance to resubmit.

This week I received the notification that my claim was accepted and the amount that was ‘eligible’ for consideration of payment. I have had some experience with these in the past and the payouts can be quite disappointing.

We’ll see, they say the payouts should come in the next few months.
__________________

Newventurer is online now   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 07-14-2018, 02:10 PM   #2
Thinks s/he gets paid by the post
OldShooter's Avatar
 
Join Date: Mar 2017
Location: City
Posts: 1,858
These things are a puzzle to me. The owners of the company sue themselves to collect money that comes out of their own pockets/aka shareholder equity.

Oh, OK, the lawyers make out like bandits. Now I understand.
__________________

OldShooter is offline   Reply With Quote
BP shareholders lawsuit
Old 07-14-2018, 02:41 PM   #3
Thinks s/he gets paid by the post
 
Join Date: Aug 2004
Location: Laurel, MD
Posts: 3,480
BP shareholders lawsuit

Quote:
Originally Posted by OldShooter View Post
These things are a puzzle to me. The owners of the company sue themselves to collect money that comes out of their own pockets/aka shareholder equity.

Oh, OK, the lawyers make out like bandits. Now I understand.


Absolutely a play by the legal profession. Can be a legitimate action but mostly just a money grab. I bought BP after the spill as the stock was starting to recover when I thought the coast was clear. I was wrong and after five years I am finally barely above break even by dripping the fat divvy.
I only recall getting paid on one of many class action suits involving stocks that I own. I meticulously followed the action and calculated the value of my claim to be ~$600. I think we ended up with less than $100 due to volume of claims there just wasn’t enough to make shareholders while after the lawyers got their cut off the top.

I haven’t received any info about the BP class action so I guess I am excluded.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
jazz4cash is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Does anyone understand the impact of the Johnson Controls merger on shareholders? BrianB Stock Picking and Market Strategy 19 04-07-2017 11:12 PM


 
All times are GMT -6. The time now is 08:03 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.