BP Spill Claim Investor Waited Too Long to Sue Firm for Big Loss

A company that invested $5.8 million in mass-tort litigation stemming from the BP oil spill waited too long to sue the law firm that promised it a significant financial return, a Texas appeals court said June 13.

Duncan Litigation Investments LLC had knowledge early on that many of Watts Guerra LLP’s purported 40,000 clients were just “names in a phone book,” duplicates, or otherwise problematic, Judge Gregory T. Perkes wrote for the Texas Court of Appeals, 13th District.

But it waited until after the two-year statute of limitations had run to sue the firm for negligence, gross negligence, and negligent ...