Lawsuit against BP officials, on behalf of stockholders, filed in Alaska

Suit on behalf of BP stockholders filed in AK

JUNEAU, Alaska — BP stockholders are suing top company officials, claiming in a lawsuit filed in Alaska that “gross mismanagement” has tarnished the company’s reputation and hurt its value.

The lawsuit, filed Thursday in Superior Court in Anchorage, alleges officials did not take the necessary steps to ensure BP compliance with safety rules and environmental safeguards. It cites cases including last month’s oil rig explosion in the Gulf of Mexico and concerns that U.S. lawmakers raised earlier this year about BP operations on Alaska’s North Slope.

The lawsuit seeks unspecified damages and appointment of an “independent corporate monitor” to implement safety and environmental compliance measures.

Named defendants include BP chief executive Tony Hayward and members of BP’s board of directors.

A BP spokesman declined comment on pending litigation.