Anadarko Petroleum Being Sued By Hedge Funds Over Oil Spill Damages

Over 100 hedge funds have been given permission to sue Anadarko Petroleum Corporation (NYSE:APC), a BP partner for its role in the 2010 Deepwater Horizon oil spill. According to Reuters report, U.S. District Judge Keith Ellison in Houston ordered Anadarko Petroleum Corporation (NYSE:APC) to face a law suit accusing it of defrauding shareholders. Market Cap Tanked Investors led by the pension funds of U.S. Virgin Islands retirees and over 100 hedge funds have filed a class action securities fraud suit seeking billions of dollars of lost share value. Anadarko has over 100 hedge fund shareholders. According to the shareholders, Anadarko Petroleum…