In The News Today – June 30, 2014
BP is asking a federal judge to order repayment of “hundreds of millions of dollars the company says were overpaid to claimants as a result of ‘erroneous implementation’ of the 2010 Gulf of Mexico oil spill settlement.“ BP points to a revised policy for calculating losses that was approved by the court in May. BP says the court should order “recalculation” of awards paid prior to that change. (The Times-Picayune)
Hewlett-Packard Co. has reportedly agreed to settle shareholder lawsuits over the company’s acquisition of Autonomy Corp., which led to an $8.8 billion writedown in 2012. Under the settlement, which will be announced today, Hewlett-Packard and the investors agreed to jointly pursue claims against Autonomy co-founder Michael Lynch. (Bloomberg BusinessWeek)
The Manhattan Institute’s James R. Copland writes that, “The court’s decision in Halliburton v. Erica P. John Fund will offer limited relief to corporations and their shareholders but otherwise leaves untouched the lawsuits that continue to tax stock market investors.” (Washington Examiner)
