New York Will Seek Lead Plaintiff Status in BP Securities Litigation

New York Comptroller Thomas P. DiNapoli (pictured) stated today that he has hired a law firm to represent the fund in a securities class action lawsuit against BP Plc. Bloomberg reports that DiNapoli,  trustee of the $132.6 billion State Common Retirement Fund, said the state fund will seek lead plaintiff status in an action stemming from the Deepwater Horizon explosion and oil spill in the Gulf of Mexico in April.

The fund, which held more than 19 million shares of BP at the time, has retained the law Cohen Milstein Sellers & Toll PLLC.

Bloomberg: New York Aims to Lead Investor Litigation on BP Spill