BP Settles, Soars, Sours

Lawyers for BP oil company and for victims of a massive spill reached a settlement in early March, setting aside $5.8 billion to cover claims.

Despite the price tag, the British firm’s shares sailed up more than 2 percent on news of the settlement.

Immediately after the announcement, however, rifts appeared. Alabama Attorney General Luther Strange said that didn’t address or settle state claims; officials said health claims for problems occurring after the settlement would be handled separately. And lawyers began skirmishing over who gets how much of a fee estimated at millions of dollars.

By Nedra Bloom

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