BP Wants Pension Conversion Class Suit Axed on Standing Grounds

Sept. 22, 2021, 2:36 PM

A class action slated for trial against BP Corp. NA should instead be dismissed for lack of standing, because the retirees alleging pension mismanagement can’t connect the company’s conduct to any alleged harm, BP told a Texas federal judge.

The retirees have an “insurmountable causation problem,” because even if BP had made the communications and disclosures they claim should have been made about their pension plan, their benefits “would be the same and so would any pension benefit differential,” the company said in a motion filed Tuesday in the U.S. District Court for the Southern District of Texas. And several ...

To read the full article log in.

Learn more about a Bloomberg Law Subscription.