Now $42 billion is not chump change, even for BP. But plaintiffs in the case want much more from the firm. The big issue is whether BP acted with gross negligence. If the judge decides that the company did, BP is liable for up to triple damages.
Claims against both rig owner and operator Transocean Ltd. (NYSE: RIG) and cement contractor Halliburton Co. (NYSE: HAL) are not yet resolved, but are not at issue in the trial that begins today.
Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
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