STEVENSON, MD -- (Marketwire) -- 06/05/10 -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of purchasers of the American Depository Receipts (ADRs) of BP p.l.c. ("BP" or the "Company") (NYSE: BP) during the period between April 16, 2009 and May 21, 2010, inclusive (the "Class Period").
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than July 20, 2010 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff. You may contact Brower Piven (through hoffman@browerpiven.com or 410/415-6616) to answer any questions you may have in that regard.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company's concealment during the Class Period of repeated safety violations and related risks to BP's operations. According to the complaint, after the unprecedented and avoidable oil spill as a result of the tragic fire at the Company's Deepwater Horizon rig on April 20, 2010, the previously concealed safety risks were revealed and the value of BP ADRs declined significantly.
If you have suffered a net loss for all transactions in BP p.l.c. ADRs during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 40 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
Stevenson, Maryland
410/415-6616
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