Oregon has filed a securities lawsuit against the petrochemical giant, BP. The state wants to recover investment losses triggered by the Gulf of Mexico oil spill two years ago.
The lawsuit alleges that investors, like the state, were misled about the safety of deep water drilling. Lawyers say BP made 'materially false' and 'misleading' statements. James Sinks of the Oregon State Treasury says state lawyers did their due diligence before filing, and are confident.